The Finance Ministry has reduced the GST rates on many home appliances by making major cuts. This will cut the prices of mobile phones, LED bulbs, TVs, refrigerators and other electronics appliances.
The GST rate on mobile phones, smart TVs, LED bulbs, refrigerators, UPS, and washing machines has been reduced to 12 percent from 31.3 percent. These new rates can prove to be helpful in reducing the cost of equipment purchases.
With reduced taxes, #GST brings happiness to every home: Relief through #GST on household appliances and mobile phones 👇#6YearsofGST #TaxReforms #GSTforGrowth pic.twitter.com/6qbdaERpzp
— Ministry of Finance (@FinMinIndia) June 30, 2023
Along with this, there will be a price cut on TVs of 27 inches or less. If you buy a TV of 27 inches or less, then you will have to pay less than before. However, there is no deduction on TVs of size 32 inches or above. GST of 31.3 percent will continue to be applicable on them as before.
After this new GST rate, there may be a cut in the prices of mobile phones and electronics devices and you may get a chance to buy them at a lower cost.
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