In what can be called good news for us, GST on smartphones and more electronic goods has been reduced in India, thanks to the latest update from the Union Finance Ministry. The revised taxes on various categories may finally make things more affordable. But, will it? Here is some clarity on this!
Reduced VAT for smartphones and other electronics | Full Detail | July 2, 2023
As part of celebrating six years of GST (Goods and Services Tax) in India, the Finance Ministry has drastically reduced GST on smartphones, TVs and various home electronics. A 12% tax will now be levied on mobile phones, which could lead to reduced prices and good news for us.
TVs (up to 27 inches), refrigerators and washing machines will now be subject to 18% VAT. Household appliances like blenders, juicers, vacuum cleaners, geysers and more have also seen a reduction. With reduced taxes, #GST brings happiness to every home: relief through #GST on home appliances and mobile phones 👇 #6YearsofGST #TaxReforms #GSTforGrowth pic.twitter.com/6qbdaERpzp — Ministry of Finance (@FinMinIndia) June 30, 2020
With reduced taxes, #GST brings happiness to every home: relief through #GST on home appliances and mobile phones 👇 #6YearsofGST #TaxReforms #GSTforGrowth pic.twitter.com/6qbdaERpzp — Ministry of Finance (@FinMinIndia) June 30, 2020
