GST 2.0 in Effect From September 22: Air Conditioners Among Many Other Appliances Get Cheaper

GST 2.0

INDIA: India’s Goods and Services Tax (GST) system has been simplified under GST 2.0, effective September 22, with three main slabs: 5% for essentials, 18% for standard goods, and 40% for luxury or sin items. Appliances such as air conditioners, refrigerators, washing machines, dishwashers, and large-screen TVs, previously taxed at 28%, will now attract 18% GST, making them more affordable. These cuts are particularly timely and impactful, especially for households planning upgrades during the festive season. 

Air conditioners and dishwashers are expected to see price reductions of Rs 3,500 to Rs 4,500 (US$40 to US$51) per unit, while refrigerators and washing machines could drop by 8% to 9%. Large-screen TVs above 32 inches will also become cheaper. Mobile phones and laptops remain in the 18% standard slab, with prices largely unchanged. The revised structure aims to simplify compliance, provide price clarity for consumers, and maintain fiscal stability. 

Source: NDTV