Consumers are set to benefit from tax reductions on electronic goods, as announced by the GST Council. The council has eliminated the 28% tax slab, streamlining the tax structure to include only two rates: 5% and 18%. This change will lead to lower prices for various household appliances, including TVs, refrigerators, air conditioners, and dishwashers. The potential impact on mobile phones and laptops is yet to be seen.
The GST rate on televisions (LCD and LED), monitors, and projectors has been reduced from 28% to 18%. Consumers can anticipate savings of around 2,000 to 3,000 rupees on these items.
Additionally, air conditioners, dishwashers, refrigerators, and washing machines have been moved to the 18% tax slab. This shift could result in savings of approximately 1,000 to 2,000 rupees on refrigerators and washing machines. Air conditioners are expected to become cheaper by 1,500 to 3,000 rupees.
Unfortunately, mobile phones and laptops will not experience any price reduction. Both categories currently have an 18% GST, and this rate remains unchanged. This implies that the tax structure for smartphones and laptops will stay the same, and consumers will not see any price decrease. Consequently, the prices of smartphones and laptops are expected to remain at their current levels.