Apple has lowered the prices of all its iPhone models. During the Union Budget 2024, Finance Minister Nirmala Sitharaman cut the basic customs duty on mobile phones, chargers, and several components. 

In response to this announcement, Apple has cut the prices of iPhones in India. Apple has adjusted its website to show the revised iPhone prices. Although the reduction for the standard non-Pro models is only Rs 300, the discount for the high-end Pro models can go up to Rs 6,000. Apple sources its iPhone Pro and Pro Max models internationally, while its other smartphones are produced domestically in India.

In India, imported smartphones are currently liable for an 18% GST and a 22% customs duty, comprising a 20% basic duty plus a 2% surcharge. The surcharge, which is 10% of the basic customs duty, will stay the same. Following the reduction, the total customs duty is now 16.5%, comprising a 15% basic duty and a 1.5% surcharge. Phones manufactured in India are subject to an 18% GST only.

Source - Click Here