Mobile Phone GST Rate Slashed in July 2023! Discover the Key Information You Shouldn’t Miss!

Introduction:

The Ministry of Finance, Government of India, recently celebrated the sixth anniversary of the Goods and Services Tax (GST). To mark this occasion, they unveiled revised GST rates for various household gadgets, including mobile phones, televisions, refrigerators, and more. These changes aim to provide greater affordability and savings to consumers. Let’s dive into the fantastic offers and benefits brought about by the new GST rates!

Mobile Phones:

Tech enthusiasts have a reason to rejoice as the GST on mobile phones has been significantly reduced. Previously charged at a rate of 31.3%, the new GST rate for mobile phones now stands at 12%. This update, announced through an official tweet, has brought a smile to the faces of buyers. With the reduced tax burden, purchasing a new smartphone becomes even more enticing.

Television:

For those considering purchasing a television, there’s good news for screens up to 27 inches. A flat GST rate of 18% makes these TVs more affordable. However, buyers eyeing larger televisions should be aware that they might have to shell out a slightly higher GST amount. Nevertheless, the revised rates still contribute to making home entertainment more accessible for everyone.

Refrigerators, Washing Machines, and More:

Refrigerators, washing machines, geysers, fans, coolers, LPG stoves, and a range of other electronic appliances have also witnessed a welcome reduction in GST rates. These essential household items are now chargeable at an 18% GST rate, as opposed to the previous 28%. This reduction ensures that consumers can enjoy more affordable prices when upgrading their home appliances.

Expanded Benefits for LED Lights, Sewing Machines, and More:

The positive changes brought about by GST extend beyond the aforementioned categories. LED lights and sewing machines are now taxed at a static 12% GST rate, providing further relief for buyers. Additionally, static converters (UPS) and vacuum flasks, which were previously charged at 28% GST, have now been revised to an 18% GST rate. These updates make these items more budget-friendly and accessible for consumers.

Conclusion:

As we celebrate the sixth anniversary of GST in India, the Ministry of Finance has introduced significant changes in GST rates for household gadgets, including mobile phones, televisions, refrigerators, and more. The reduced tax rates bring relief and happiness to consumers, making these products more affordable than ever before. Whether you’re looking to upgrade your smartphone, television, or home appliances, the revised GST rates provide an excellent opportunity to save money while enjoying the latest technology. Embrace the benefits of simplified taxation and take advantage of the reduced GST rates on these essential items!