The cost of purchasing TVs and air conditioners will decrease as a result of changes in the GST rates. The government has decided to reduce the GST from 28% to 18%, offering significant price relief to customers. This change will take effect on September 22nd. Let’s understand how the GST cut will affect the prices of TVs and air conditioners.
The new policy dictates that electronic appliances like TVs, air conditioners, dishwashers, and monitors will be taxed at 18% instead of 28%. This change is expected to greatly benefit consumers, especially during the festive season when demand increases. Consequently, these products will become more affordable.
The GST rate reduction could result in a price drop of roughly ₹1,500 to ₹2,500 for a mid-range air conditioner. Air conditioners with higher tonnage capacities may see even greater price reductions, offering customers better quality products at reduced prices.
For example, if an air conditioner is priced at ₹35,000, the price could decrease by approximately ₹3,150 after the GST cut. Previously, the tax at 28% GST was around ₹6,800, which will now be approximately ₹3,150 with 18% GST. Thus, an air conditioner costing ₹35,000 may now cost around ₹31,850, offering savings of over ₹3,000.
LED and LCD televisions (32 inches and above) will also benefit from the 18% GST rate instead of 28%, leading to potential price drops of ₹1,000 to ₹5,000. This is a fantastic opportunity for customers who want to purchase large-screen smart TVs.
For a TV priced at ₹20,000, you could save around ₹2,000 after the GST reduction. Initially, at 28% GST, the tax would be about ₹5,600, but it will be reduced to approximately ₹3,600 with 18% GST. Thus, the total cost of the TV could drop from ₹23,600 to around ₹21,600. This presents a significant benefit to consumers.
Price reductions in the electronics market are expected due to the GST cut, which will increase sales during the festive season and provide consumers with attractive offers. If you plan to buy a new AC or TV, the period after September 22nd could be the most advantageous for you.