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[Announcement]Important Announcement regarding recent hike of GST Rates for Mobile Phones
Hey, Mi Fans,
Xiaomi always believes to provide flagship performance in Mobile Phones with honest pricing by keeping its profit margin below 5%.
During the 39th GST Council meeting, the council has decided to hike the rate on mobile phones. Mobile phones will attract an 18% goods and services tax (GST) rate from April 1, 2020, up from existing 12%, after the GST Council corrected the inverted duty structure that was being faced by the industry.
After much deliberation & in keeping with the Xiaomi policy of maintaining a 5% margin on our hardware products, Xiaomi will be increasing prices of the products.