GST on TV: The government has taken a big step just before the festive season, and it is going to make many shoppers happy. The GST Council has decided to remove the 12% and 28% tax slabs and keep only 5% and 18%. This means many items that were taxed heavily till now will become cheaper from September 22, reported News 18.
Products like refrigerators, washing machines, televisions, air conditioners, cars and even bikes will now see lower prices. People who are planning big purchases around Navratri and Diwali will get relief as they can save a good amount on every item.
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This decision is great for middle-class families who often wait for festive discounts to buy things. E-commerce platforms like Amazon and Flipkart are already known for heavy festive offers, and with this extra price cut due to GST changes, buyers will end up saving even more.
How much will people save?
Products like ACs and televisions above 32 inches were charged under the 28% GST slab. With the change, they will now come under the 18% slab, and this difference directly cuts down the final price. For example, one Voltas 1.5 ton 5-star inverter split AC is selling online for Rs 41,990.
At the old tax rate, the base price was Rs 32,805 and Rs 9,185 was added as tax. Under the new GST rate, the tax will come down to Rs 5,904, and the total price will drop to Rs 38,709. Buyers will save Rs 3,281 on the same model after September 22.
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Another example is a 40-inch smart Android TV, which is listed on Flipkart for Rs 35,990. At the earlier tax rate, Rs 7,872 went into GST, but now this amount will fall to Rs 5,061. The final cost will then be Rs 33,178. This gives buyers a direct saving of Rs 2,812. When you combine such savings with special festive discounts, the prices will look even more attractive.
Festive sales
Retailers have already started preparing for this demand and are stocking up more products in advance. Market analysts say that the lower GST rates along with usual festival offers will encourage more people to buy. It is expected that the upcoming Navratri and Diwali sales will cross all records, with people crowding both online platforms and physical stores.
