New Delhi: Big savings are on the way for consumers! The government has slashed GST rates on major gadgets and appliances, making them more pocket-friendly. In one of the biggest reforms since GST was first introduced, the tax structure has now been simplified to just two slabs—5 per cent and 18 per cent. This move is expected to bring relief to households and give a strong boost to the electronics market.
The GST Council, led by Finance Minister Nirmala Sitharaman, has announced major tax cuts on popular electronic items. Starting September 22, the new 5 per cent and 18 per cent GST rates will apply to four key categories—air conditioners, televisions larger than 32 inches (including LED and LCD models), monitors and projectors, and dishwashing machines. This means big-ticket home gadgets are set to become more affordable. ()
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The GST cuts are set to make a noticeable difference in retail prices. For example, a television priced at Rs 40,000 that earlier attracted Rs 11,200 in tax at 28 per cent will now only have Rs 7,200 tax putting nearly Rs 4,000 back in the buyer’s pocket. Similar savings will apply to air conditioners, projectors, and dishwashers, which were earlier seen as luxury or discretionary buys for many middle-class families. The GST Council says this move is part of its larger effort to simplify the tax system and ease the financial burden on consumers. ()
According to the GST Council, the rate cuts are part of a larger push to make the tax system simpler and to ease the burden on consumers. Speaking after the Council meeting, Finance Minister Nirmala Sitharaman explained that the reforms are focused on “rationalising rates and boosting demand,” ensuring both affordability for buyers and growth for the market.
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