What’s inside:
This article explains the recent changes in GST rates that will benefit shoppers, especially during the festive season.
The government has announced important changes in Goods and Services Tax (GST) rates just before the festive season. Starting from 22nd September, there will be only two GST rates applicable on most products, which will help consumers save money.
Previously, GST rates were at 12% and 28%. Now, these have been simplified to 5% and 18%. This change is expected to make shopping during the upcoming festivals like Navratri, Dussehra, and Diwali more affordable for everyone.
Consumers can look forward to saving between Rs 500 to Rs 2000 on various electronic items and household appliances. The reduced tax rates will apply to products like LED TVs, air conditioners, refrigerators, and washing machines. This means that people can expect to spend less during their festive shopping.
Here are some key products and their new GST rates:
– Television sets (all sizes): from 28% to 18%
– Air Conditioners: from 28% to 18%
– Refrigerators: from 28% to 18%
– Washing machines: from 28% to 18%
– Sewing machines: from 12% to 5%
With the new GST rates in place, shoppers can expect lower prices on a wide range of electronic and luxury goods. This change is aimed at providing relief to consumers during the festive shopping season.
Summary:
- New GST rates will be 5% and 18%, effective from 22nd September.
- Previous rates of 12% and 28% have been reduced.
- Consumers can save Rs 500 to Rs 2000 on electronic items.
- Popular products with reduced rates include TVs, ACs, and washing machines.
- These changes aim to make festive shopping more affordable.
