The GST Council has implemented tax reductions on a range of electronic goods, offering consumers significant savings. The 28% tax slab has been eliminated, simplifying the system to two slabs of 5% and 18%. As a result, televisions, refrigerators, air conditioners, and dishwashers are now more affordable. A key point of interest is whether smartphones and laptops will also see a price decrease.
The government has lowered the GST on televisions (LCD and LED), monitors, and projectors from 28% to 18%. Previously, high tax rates contributed to higher prices, but now consumers can expect to save approximately 2,000 to 3,000 rupees on televisions and monitors.
Air conditioners, dishwashers, refrigerators, and washing machines are now taxed at 18% instead of the previous 28%. This could lead to savings of around 1,000 to 2,000 rupees on refrigerators and washing machines, while the price of air conditioners might decrease by 1,500 to 3,000 rupees.
Unfortunately, consumers will not experience any price relief on mobile phones and laptops. The existing 18% GST on both categories has been maintained. This implies that the tax structure for smartphones and laptops will remain unchanged. Consequently, their prices are likely to stay at the same levels, and consumers will not benefit from any price reductions. This means that there will be no reduction in smartphone prices, and the GST on laptops will continue to be 18%.