In a landmark move towards simplifying the tax structure and easing the financial burden on citizens, Prime Minister Narendra Modi in his Independence Day address this year announced the next generation GST reforms. The new tax rates will be implemented from Monday.

Akashvani correspondent reports, Government has announced a big relief for the Electronics industry by reducing GST rates on household electronic items.

The tax rates on Electric Accumulators have been slashed from 28 percent to 18 percent, enhancing access to backup power for digital devices and small appliances.

The tax rate on composting machines has been cut down from 12 percent to 5 percent making composting technology more affordable.

The move is expected to encourage wider adoption of waste-to-energy and organic waste management solutions.

Similarly, tax rates on Two-Way Radios have also been brought down from 12 percent to 5 percent, lowering procurement costs for police forces, paramilitary units, and defence establishments.

Talking to media, Chairman of Electronics & Computer Software Export Promotion Council of India, Sandeep Narula said the reductions will have multiple advantages, like an increase in sales of domestic electronics in the country.

This rationalisation under the next generation GST reforms is expected to foster accessibility and affordability of electronic items and expand the market size for domestic producers.