Goods and Services Tax (GST) on Electronic Items in India Reduced

The government of India has announced a reduction in the Goods and Services Tax (GST) on electronic items. This is good news for consumers, as it will make electronic items more affordable.

The GST rate on mobile phones has been reduced from 31.3% to 12%. This means that consumers can expect to save up to Rs. 2,000 on the purchase of a new mobile phone. The GST rate on TVs up to 27 inches has also been reduced from 31.3% to 18%. This means that consumers can expect to save up to Rs. 1,000 on the purchase of a new TV.

In addition to mobile phones and TVs, the GST rate on several other electronic items has also been reduced. These include refrigerators, washing machines, air conditioners, microwave ovens, and laptops. The GST rate on these items has been reduced from 28% to 18%.

The reduction in GST on electronic items is part of the government’s efforts to make these items more affordable for consumers. The government hopes that this will boost demand for electronic items and help to stimulate the economy.

The reduction in GST will come into effect from July 1, 2023. This means that consumers can start enjoying the benefits of lower prices from tomorrow onwards.

The reduction in GST is a welcome move for consumers. It will make electronic items more affordable and help to boost demand for these products. This will, in turn, help to create jobs and boost the economy.

The government has taken a number of steps in recent months to make electronic items more affordable. In addition to the reduction in GST, the government has also banned import duties on a number of electronic items. This has led to a sharp decline in the prices of electronic items in India.

The reduction in GST and import duties is expected to have a positive impact on the Indian electronics market. It is estimated that the market will grow at a compound annual growth rate (CAGR) of 10% over the next five years. This growth will be driven by the increasing demand for electronic items from consumers across the country.

The reduction in GST on electronic items is a positive development for the Indian economy. It will make electronic items more affordable and help to boost demand for these products. This will, in turn, help to create jobs and boost the economy.