A reduction in GST rates means that air conditioners and large-screen televisions will become more affordable. The government has opted to decrease the GST from 28% to 18%, which will result in considerable price reductions for consumers. These new regulations will come into effect from September 22nd. Let’s see how much you can save on TV and AC purchases.
The new policy states that TVs, ACs, dishwashers, and monitors will now have an 18% GST instead of 28%. This will bring significant relief to consumers, especially during the festive season, when these products are in high demand, making them more affordable.
A mid-range air conditioner could be approximately ₹1,500 to ₹2,500 cheaper due to the GST reduction. Higher-tonnage air conditioners could see an even larger price reduction, allowing customers to purchase better quality products at lower prices.
For example, if an air conditioner costs ₹35,000, the GST cut could save you around ₹3,150. With a 28% GST previously, the tax was about ₹6,800, which will be approximately ₹3,150 with an 18% GST. This means that an air conditioner priced at ₹35,000 can now be purchased for around ₹31,850, saving you over ₹3,000.
Large LED and LCD televisions, 32 inches and larger, will also benefit from an 18% GST instead of 28%, with prices potentially dropping by ₹1,000 to ₹5,000. This presents a great opportunity for customers interested in purchasing smart TVs with larger screens.
For instance, if a TV costs ₹20,000, you’ll save around ₹2,000 after the GST cut. Previously, the tax was roughly ₹5,600 at 28% GST, but it will now be about ₹3,600 at 18% GST. This means the total cost of the TV will decrease from ₹23,600 to around ₹21,600. Consumers stand to gain significantly.
The GST cut is expected to lower prices in the electronics market, boosting sales during the festive season and providing consumers with attractive deals. If you’re planning to buy a new AC or TV, the period after September 22nd could be the most advantageous.