consumers to pay rs 21,344 in taxes for iphone 13 mini; up to rs 40,034.90 for iphone 13 pro max

© Provided by Business Today Consumers to pay Rs 21,344 in taxes for iPhone 13 mini; up to Rs 40,034.90 for iPhone 13 Pro Max

Amidst the shortage of components, global logistics outcry and bumped up storage, Apple has managed to cap the iPhone 13 series pricing the same as last year – with the iPhone 13 mini starting at Rs 69,900. But the same model would sell for $699 in the US market. This straight-up translates $1 to Rs 100.

 

As always, this is the outrage on many social media platforms but what most fail to recognize is the duties, taxes the iPhone attracts. More so because the new iPhone 13 models will be imported into the country to start with.

 

For instance, the iPhone 13 mini has been priced at $699 in the US. It is not inclusive of the state taxes, which varies from state to state in the US. For instance, 7 per cent tax is added in Florida, whereas about 9 per cent is taxed in New York city.

 

The counterpoint of this is 18 per cent GST, which is standard across India and is included in the maximum retail price. Of the Rs 69,900 iPhone 13 mini, the GST alone amounts to Rs 10,662.71. This had been added over and above the cost of the iPhone, which also includes custom duties.

 

Apple has been expanding its assembly line in India and has commenced the manufacturing of the last year’s iPhone 12, but sources at Apple confirmed that the iPhone 13 series will be imported, which also results in additional custom duties.

Also read: Apple updates iPad, iPad Mini; adds Centre Stage feature

 

A fully build smartphone unit imported in India draws 22.5 per cent duties, amounting to approximately Rs 10,880.32 before GST on iPhone 13 mini. In all, for Rs 69,900 iPhone 13 mini, consumers are paying approximately Rs 21,543.03 in taxes & duties. And for the top-of-the-line iPhone 13 Pro Max that would retail for Rs 1,29,900, the duties and taxes amount to Rs 40,034.90.

 

Here's the chart for your reference:

consumers to pay rs 21,344 in taxes for iphone 13 mini; up to rs 40,034.90 for iphone 13 pro max

© Provided by Business Today ​ * The iPhone 13 series is not yet locally manufactured and will be imported into India

Industry sources corroborate, the difference in India pricing is due to various factors with the duties and taxes being the biggest. Other factors also including forex and commissions.

 

Also read: India makes it to the first list, iPhone 13 series to be available starting Sep 24

For instance, when it comes to calculating local pricing before the launch, other than country-specific duties and taxes, companies like Apple have to keep a buffer for currency fluctuation and volatility too. Even though $1 costs Rs 73.64 (as of September 14, 2021), it touched Rs 74.43 on August 19 last month itself.

 

The only respite consumers can hope for are the cashback offers. Last year, HDFC offered a cashback of up to Rs 6,000 on the purchase of the new iPhones using a credit card. However, this year’s offers, if any, are yet to be announced. The new iPhone 13 series will go on sale in India on September 24 along with the other countries in the first wave.

 

Also read: Apple iPhone 13 launch triggers meme fest on Twitter; here’s how netizens reacted

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