Reduction of GST rate on home appliances: If you are thinking of buying a smartphone, fridge, TV, AC or any other home appliance, then there is a good thing for you. The government is going to make many electronic items, including TV, refrigerator, cheaper by giving relief to the common people. The Finance Ministry has made a big cut in the GST rate of electronic gadgets and all these products are going to be cheaper in the coming years.
On which the GST rate has been reduced
The central government has reduced GST rates on many home appliances including mobile phones, refrigerators, washing machines, mixers. The Finance Ministry has published the list of those products. Accordingly, the 31.3% GST on items like mobile phones, LED bulbs, smart TVs, refrigerators, washing machines has been reduced to 12%. At the same time, the 31% GST on geysers, coolers, fans has come down to 18%.
TVs up to 27 inches have also become cheaper
According to the information provided by the Ministry of Finance, you will have to pay less to buy a 27-inch or less TV. 31.3% GST applicable on 27 inch TVs has now increased to 18%. For your information, we inform you that the GST rate has been changed for TVs of 27 inches and below. Rates for TVs larger than 27 inches remain unchanged.
