Consumers are set to benefit from a series of GST rate reductions on electronic goods, as announced by the GST Council. Beginning today, the tax rate on air conditioners, televisions, dishwashers, and refrigerators will be lowered to 18% from the previous 28%. This change will impact the prices of a wide range of products including large screen TVs (32 inches and above), LCDs, LEDs, monitors, projectors, and set-top boxes. The reduction in GST is anticipated to make these products more affordable. The tax cuts extend to household appliances and equipment. Notably, the GST on renewable energy products such as solar panels and composting machines has also been reduced, going from 12% to 5%. Meanwhile, the tax rates on mobile phones and laptops remain unchanged.
