After the 56th meeting of the GST Council, Finance Minister Nirmala Sitharaman announced that TV, air-conditioner and dishwasher will now have only 18% GST instead of 28% on 32 inches of TV, air-conditioner and dishwasher. This change will be applicable from 22 September (on the first day of Navratri).
How much will be the benefit?
According to industry experts, this decision will reduce the prices of these products by 8–9%.
The 43 -inch TVs will become cheaper by about ₹ 2,000.
A 75 -inch big TV may decrease by ₹ 23,000.
AC and dishwashers can be cheaper by ₹ 3,500– ₹ 4,500.
What does the industry say?
Higher India President Satish N.S. Said, “This is an unprecedented step. For the first time there has been such a huge tax deduction on electronic goods. The prices will decrease by about 8%, which will increase demand.”
Although he also said that people can avoid shopping until the new rates are implemented, but the demand is expected to increase further during festivals.
What things will be affected?
This GST cut is not only limited to TV, AC and dishwasher, but will also apply to small cars and motorcycles up to 350cc. The government aims to reduce the burden on customers and to encourage purchases in the festive season.
