GST Bachat Utsav announced by Prime Minister Narendra Modi which commenced on 22nd of this month is benefiting all sections of society. The next-generation GST reforms represent a significant step towards simplifying India’s indirect tax system. The reforms are bringing substantial relief to citizens by reducing the tax rate on various goods and services. Today we are presenting a report on the GST cut in electrical items. 

In order to provide major relief to the consumers, the GST council has reduced the tax rate on Air Conditioners and Dishwashers from 28 percent to 18 percent. This important step will ease the financial strain on middle class families by increasing the affordability for them. In addition, lowering the GST rate on dishwashers will make them more affordable for households, improving ease of living and driving adoption.

Similarly cut down of tax on Television and Non TV monitors has been slashed to 18 percent from the previously taxed 28 percent. The move will directly boost demand for these appliances, helping domestic producers expand the market size. A shopkeeper has welcomed the government’s decision and said that people are getting benefitted from new GST reforms.

The reduced tax slabs will not just support localization efforts but will also reduce import dependence. The new reforms will further expand opportunities for MSMEs in plastics, wiring, cooling systems, LED panels, and assembly services.