The Ministry of Finance has given a big gift to the common people. With the initiative of the government, now many home appliances including mobile phones, TVs, refrigerators will become cheaper. The Finance Ministry has drastically cut GST rates on many such goods. The Finance Ministry has released the complete list of such goods. GST on fans, coolers, geysers etc. has been reduced from 31.3 percent to 18 percent.
Big cut in GST
There has been a big reduction in GST (GST) on electronics items including mobile phones, LED bulbs, TVs, fridges in home appliances. According to the Finance Ministry, GST on mobile phones, smart TVs, LED bulbs, fridges, UPS, washing machines has been reduced from 31.3 percent to 12 percent. The Finance Ministry has shared this information by tweeting about it.
27 inch or less TV will be cheaper
According to the new rate of GST, if you buy a TV of 27 inches or less, then you will have to pay less than before. By the way, most companies manufacture TVs of at least 32 inches or above. No change has been made on TVs of size 32 inches or above. As before, 31.3 percent GST will be applicable on them.
Mobile phone prices will also come down
The government (Ministry of Finance) has made a huge cut in GST on mobile phones. Earlier the GST rate was 31.3 percent, which has now been reduced to 12 percent. After this happens, mobile phone manufacturers can cut the price. Overall, if you buy a mobile phone in the upcoming festive season, then the purchase will be done at a lower cost.
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