The GST Council has announced tax cuts on various electronic items, bringing good news to consumers. The 28% tax slab has been removed, and only two slabs, 5% and 18%, will remain. Consequently, products like televisions, refrigerators, air conditioners, and dishwashers will become cheaper. An important question is whether mobile phones and laptops will follow suit with price drops.
The government has decreased the GST on televisions (LCD and LED), monitors, and projectors from 28% to 18%. High taxes previously drove up prices, but now consumers can save approximately 2,000 to 3,000 rupees on televisions and monitors.
Air conditioners, dishwashers, refrigerators, and washing machines have transitioned to the 18% tax bracket, down from 28%. This may translate to savings of approximately 1,000 to 2,000 rupees on refrigerators and washing machines. The price of air conditioners may also decrease by 1,500 to 3,000 rupees.
However, there will be no price relief for consumers on mobile phones and laptops. Both categories currently have an 18% GST, which the government has decided to keep in place. This means there will be no changes to the tax structure for smartphones and laptops. As a result, their prices are not expected to change, and consumers will not see any additional savings. In other words, smartphone prices will not decrease. Similarly, laptops will continue to be taxed at 18%.