The GST rate cut has come into play from July 27 due to which many electrical appliances have become cheaper on pockets. Many consumer durable firms have slashed the prices of the products from 28 per cent to 18 per cent. Refrigerators, televisions, food processors and washing machines will be at least 7-10 per cent cheaper starting July 28. The GST council decided to slash rates of many products in the white goods category on 21st July.
Television sets upto 27 inches, washing machines, geysers, microwave ovens, vacuum cleaners, refrigerators, food processors and the lithium-ion batteries in mobile phones will get cheaper.
Kamal Nandi, Business Head and EVP, Godrej Appliances said, “the prices of the refrigerators, washing machines, microwave ovens and chest freezers will be reduced by 10 percent due to GST reduction. This will provide a boost to sales ahead of the upcoming festive season, that will help Godrej Appliances surpass the target of 20 percent growth over the previous year.”
Vijay Babu, Business Head Refrigerators, LG Electronics India said, “As a market leader that keeps customers at the centre of its operations, LG confirms that they will pass on 100 percent GST reduction benefit to the customers with effect from July 27.”
Rajeev Bhutani, Senior Vice President, Consumer Electronics, Samsung India said, “this price cut will fuel the demand for consumer electronics products now and in the ensuing festival season.”
Finance Minister, Arun Jaitley informed in a blog post that the 28 percent category is phased out. He also told that in the upcoming meetings, the GST Council will look to reduce rates of products like air-conditioners as well as high-end LED TV sets.
