In a move designed to benefit consumers, the GST Council has lowered taxes on various electronic items. The previous 28% tax slab has been scrapped, simplifying the structure to include only 5% and 18% tax rates. As a result, prices for televisions, refrigerators, air conditioners, and dishwashers are set to decrease. However, the impact on mobile phones and laptops remains uncertain.
Televisions (LCD and LED), monitors, and projectors will now be taxed at 18% instead of the previous 28%. This reduction in tax rates is expected to translate into price drops of approximately 2,000 to 3,000 rupees for consumers.
Air conditioners, dishwashers, refrigerators, and washing machines are also included in the tax reduction, now falling under the 18% tax bracket. This could lead to potential savings of 1,000 to 2,000 rupees on refrigerators and washing machines. Furthermore, consumers can expect a reduction of 1,500 to 3,000 rupees on the price of air conditioners.
Despite these positive changes, there’s no price reduction expected for mobile phones and laptops. Both categories already have an 18% GST applied, and this rate has been maintained. Therefore, the tax structure for smartphones and laptops remains unchanged. This means that consumers will not see a decrease in the price of these items, and the existing prices will stay in place.