As a part of Major tax reform rolled out in india(GST) yesterday, Apple has slashed out the price of its major products including iPhone,iPad & iMac. GST (Goods & Service Tax) is considered as one of the major tax reforms country has done since independence. Price of apple products are slashed by 7.5%. Since apple has a very large market (India) to pursue, Decreased prices can result in the increase in the number of apple product sales in india.
GST as described by times of india
GST will be levied on value additions+ at each stage of the production cycle – buying raw materials, processing, manufacturing, warehousing and sale to customers – the monetary worth added at each stage to achieve the final sale to the end customer will be taxed. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.
Price of iphone 7 has been slashed by Rs 4,800 (from 60k to 56.2K). 128gb and 256gb models are to be sold at rs. 65,200 and rs. 74,400 respectively. iPhone 7 Plus price for 32gb model has been dropped from rs. 72,000 to 67,300, and 128 & 256 models price has been dropped to Rs. 72,000 and Rs. 85,400.
The 12.9 Inches iPad is priced at Rs. 70,900 and Rs. 86,400 from its original price of Rs. 70,900 and rs. 86,400. 9.7 inches models are now priced at rs. 28,000(Rs. 28,900) and Rs. 35,700(Rs. 36,900) for 32gb and 128gb respectively.
For 10.5 Inches iPad pro, prices are dropped to rs. 70,900, Rs. 58,300 and Rs. 73,900 for 64gb, 256gb and 512gb models. Prices of iPad will cellular features has been dropped to Rs. 61,400,Rs. 68,900 and Rs. 68,900 for 64gb, 256gb and 512gb respectively.
Apple watch and Macbook Price changes as per Indian Express