Mobile Phones, TVs And Other Electronic Items Gets Cheaper In India: Here’s Why – News18

In good news, the Union Finance Ministry just lately introduced that the federal government has lowered Goods and Services Tax (GST) on the acquisition of digital gadgets on the sixth anniversary of the GST implementation on July 1. The record of digital gadgets consists of cellphones, TVs as much as 27 inches, fridges, washing machines, and extra.

According to the federal government, now customers is not going to need to pay 31.3 % GST to purchase good TVs as much as 27 inches, cellphones and extra. The Press Information Bureau shared the news of lowered GST charges on

dwelling home equipment

and digital gadgets by way of Twitter.

Previously, prospects needed to pay 31.3 % GST when buying a cell phone. Now, the federal government has lowered the GST price to 12 per cent. As a end result, cell phone corporations can cut back the costs of their telephones, making them cheaper for shoppers.

In addition, the federal government has additionally lowered the GST on TVs with a display measurement of 27 inches or much less. The GST price has been lowered from 31.3 per cent to 18 per cent for these TVs. However, good TVs have display sizes of 32 inches or extra, which nonetheless appeal to a GST price of 31.3 per cent.

In a transfer to make

dwelling home equipment

extra reasonably priced, the Finance Ministry has lowered the GST charges on varied merchandise. Items akin to fridges, washing machines, followers, coolers, geysers, and extra will now appeal to a decrease GST price of 18 perc ent, down from the earlier price of 31.3 %.

Additionally, different home goods together with mixers, juicers, vacuum cleaners, LEDs, vacuum flasks, and vacuum utensils have additionally seen a discount in GST charges. The GST price on mixers, juicers, and related gadgets has been decreased from 31.3 per cent to 18 %, whereas LEDs now have a lowered GST price of 12 pe rcent, down from the sooner 15 per cent.

Meanwhile, IANS reported that the rhe gross GST income collected in June witnessed a meagre 2.80 per cent rise to Rs 1,61,497 crore, in comparison with Rs 1,57,090 crore collected in May. Out of the GST collected in June, CGST was Rs 31,013 crore, SGST was Rs 38,292 crore, IGST was Rs 80,292 crore (together with Rs 39,035 crore collected on import of products) and cess Rs 11,900 crore (together with Rs 1,028 crore collected on import of products). The authorities has settled Rs 36,224 crore to CGST and Rs 30,269 crore to SGST from IGST.