• Source:JND
Add as a preferred

GST 2.0 Rates: This festival season is going to be big for Indian consumers, as the centre has announced some changes in the GST regime that will bring down the prices and relief to its customers who usually go big during the festive seasons. The government has slashed the Goods and Services Tax on major electronic items under its new reforms. This move will also push the demand upwards due to price revisions, as more people will be willing to spend on cheaper electronics.

ALSO READ: PUBG 4.0 Update Out Now! Dive Into The Action With Spooky Soiree Mode And More! Check How To Install

What Is GST 2.0?

Earlier the tax levied on major electronics goods was 28 per cent. However, post the reforms, the effective rate of tax has been brought down to 18 per cent on major electronic items. This is a good move to increase the demand in the economy, and it comes at a time when festive seasons are just about to hit.

Which Goods Will Be Cheaper?

The GST Council, chaired by Finance Minister Nirmala Sitharaman, has approved a broad cut in tax rates on electronic appliances. The changes will take effect from September 22, alongside a major restructuring of the GST slab system.

  • Air conditioners: GST reduced from 28% to 18%
  • Televisions above 32 inches (LED/LCD): reduced from 28% to 18%
  • Small-screen TVs: no change, remain at 18%
  • Monitors and projectors: reduced from 28% to 18%
  • Dishwashers: reduced from 28% to 18%
  • GST structure: four slabs consolidated into two – 5% and 18%

ALSO READ: Possible iPhone 17 Prices Leak Ahead Of Launch: Here's What It Might Cost You!

These cuts in tax rates are described by the GST Council as a broader effort to simplify the tax structure and boost demand by reducing the cost burden on the final consumer. Finance Minister Nirmala Sitharaman expressed that the reforms will help in "rationalising rates and boosting demand".