Government reduces GST rate on electronics item: Details here - Techlusive

The government has reduced GST on the purchase of electronics items. Now users will not have to pay 31.3 percent GST to buy these things.

The government has brought a smile to the common people by slashing GST on electronics, goods etc., such as washing machines, mobile phones, refrigerators, home appliances, UPS and more. Earlier, consumers were charged up to 31.3 percent GST on these items.

The Finance Ministry shared the news of reduced GST rates on home appliances and electronic items via Twitter.

With reduced taxes, #GST brings happiness to every home: Relief through #GST on household appliances and mobile phones ðŸ‘‡#6YearsofGST #TaxReforms #GSTforGrowth pic.twitter.com/6qbdaERpzp

— Ministry of Finance (@FinMinIndia) June 30, 2023

This will make these devices more affordable for users. Here is a list of all the items that will become cheaper due to new GST rates.

TV will be cheaper to buy

The government has slashed GST from 31.3 percent to 18 percent on TVs with a screen size of 27 inches or less. However, most consumers will not get the benefit of this as most of the smart TVs have a screen size of 32 inches or more, and they still have a GST of 31.3 percent.

So, if you want a smaller TV, you can save some money. But if you want a bigger TV, you will have to pay the same GST as before.

Mobile phones will be cheaper

The government has lowered GST on mobile phones, making them cheaper for customers. Earlier, a consumer needs to pay 31.3 percent GST while buying a mobile phone. This has now been reduced to 12 percent, which will allow mobile phone companies to cut the price of their phones.

Home appliances will also be cheaper

Home appliances like refrigerators and washing machines, as well as fans, coolers, geysers, etc., will also be cheaper. The GST on these home appliances has been slashed from 31.3 percent to 18 percent, which means a price reduction of up to 12 percent.

Other household appliances such as mixers, juicers, vacuum cleaners, LEDs, vacuum flasks and vacuum utensils have also got a GST cut. The GST on mixers, juicers, etc. has gone down from 31.3 percent to 18 percent while the GST on LEDs has gone down from 15 percent to 12 percent.

Meanwhile, the government GST collection in the month of May 2023 was Rs 1,57,090 crore, which was 12% higher than the GST collection in the same month last year. The GST collection for May 2023 included ₹28,411 crore collected towards CGST, Rs 35,828 crore towards SGST, and Rs 81,363 crore towards IGST (including Rs 41,772 crore collected on import of goods).

The state-wise break-up of GST collections in May 2023 showed that Maharashtra posted the highest GST collection in absolute terms at Rs 23,536 crore. Other states like Karnataka, Gujarat, Tamil Nadu, Haryana and Uttar Pradesh also showed high GST collections. The GST collections for May 2023 were attributed to the improved economic activity and the increased compliance by taxpayer.

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