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Government counter claims handset manufacturers, smartphones to cost less GST has been fixed at 12% for smartphones and medical devices according to sources. Gains are also expected to accrue to packaged cement, which attracts central excise duty of 12.5% and a specific levy of Rs.125 per metric tonne in addition to VAT of 14.5%. Smartphone and medical device manufacturers were proved wrong when the results from the Srinagar conference were declared. Manufacturers had predicted prices of their products to spike but the results show otherwise. Surgical instruments, will see a lower tax burden with the GST rate pegged at 12% instead of the current incidence of over 13%, which includes 6% central excise duty and 5% VAT.
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