GST Rate Cuts: A Boon for Consumer Electronics & Appliances
GST rate reductions on large TVs and room air-conditioners from 28% to 18% are set to lower prices and boost sales. This tax reform aims to enhance consumer accessibility, drive energy-efficient upgrades, and bolster the consumer appliances industry amidst the festive season. Industry leaders express optimism for greater market penetration.
- Country:
- India
Prices of large screen televisions and room air-conditioners are poised to decrease as GST rates have been slashed from 28% to 18%.
This tax reform is expected to boost sales, increase penetration, and encourage local manufacturing.
Industry leaders hail this move as a progressive step towards fulfilling consumer aspirations.
(With inputs from agencies.)
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