Indian handset industry demands GST reduction on mobile phones, components

India’s handset industry has demanded that the  GST  rate on mobile phones should be reduced from 18% currently to 12% and the GST rate on parts and components should be reduced to 5%, reasoning that the high rate has led to a rise in prices and it is decreasing demand for mobile phones.  The Indian Cellular & Electronics Association ( ICEA ) and consulting firm Ernst & Youn…