Consumers will find that air conditioners and large-screen TVs are set to become more affordable thanks to changes in GST rates. The government has decided to reduce the GST from 28% to 18%, resulting in significant price reductions for consumers. These new rules come into effect on September 22nd. Let’s look at how much you can save when buying TVs and ACs.
According to the new policy, electronic devices such as TVs, air conditioners, dishwashers, and monitors will be taxed at 18% GST instead of 28%. This change will greatly benefit consumers, especially during the festive season when demand is high. This will lead to lower prices for these products.
A mid-range air conditioner could become cheaper by approximately ₹1,500 to ₹2,500 due to the GST rate cut. Air conditioners with higher tonnage may see even larger price drops, allowing customers to buy better quality products at lower prices.
For instance, if an air conditioner costs ₹35,000, the GST cut could reduce its price by about ₹3,150. Previously, with a 28% GST, the tax was around ₹6,800, which will be approximately ₹3,150 with an 18% GST. This means that an air conditioner priced at ₹35,000 can be purchased for about ₹31,850. You will save more than ₹3,000.
32-inch and larger LED and LCD televisions will also have an 18% GST instead of 28%, leading to a price reduction of ₹1,000 to ₹5,000. This presents an excellent opportunity for consumers looking to purchase smart TVs with large displays.
For example, if a TV is priced at ₹20,000, you will save about ₹2,000 after the GST cut. Previously, the tax at 28% GST was approximately ₹5,600, but it will drop to about ₹3,600 with 18% GST. Therefore, the total cost of the TV will go from ₹23,600 to about ₹21,600. Consumers will benefit greatly from this.
The GST cut is expected to reduce prices in the electronics market, which will boost sales during the festive season and provide consumers with great deals. If you’re considering buying a new AC or TV, the time after September 22nd could be the best for you.