New GST Rates Come Into Effect Today, Lowering Prices on Appliances

In a move aimed at providing financial relief to consumers, the GST Council has implemented lower tax rates on several electronic items. The revised rates, which took effect today, reduce the GST on air conditioners, televisions, dishwashers, and refrigerators to 18% from the previous 28%. This change affects the pricing of various TV types, including LCD and LED models, monitors, projectors, and set-top boxes. The impact will be a reduction in the retail prices of these electronics. The tax cuts also cover other appliances like refrigerators and washing machines. Moreover, the tax on green energy products, including solar panels and composting machines, is reduced, moving from 12% to 5%. Mobile phones and laptops are excluded from these changes and will continue to be taxed at their existing rates.