Benefits of GST Reduction: Good news for customers before the festival. Following the decision of the GST Council, the GST on electronic products including air conditioners, refrigerators, TVs, and washing machines will be reduced from 28% to 18% starting September 22. This will lead to a significant decrease in the prices of ACs from major brands like Lloyd, Whirlpool, and Blue Star.
GST Reduction on ACs Brings Smiles to Customers
For middle-class consumers, a reduction in AC prices was once almost impossible. Now, the GST reduction will solve this problem. Previously, a 28% GST was applicable, causing customers to spend more when buying an AC. However, the new 18% tax rate will bring about a substantial price reduction.
This is an Ideal Time for Pre-Festival Shopping
Sales of electronic products typically increase during festive seasons. Furthermore, experts predict that with the current tax reduction, market sales will accelerate even further. The new GST tax will be effective from September 22. Therefore, this is considered the best time to purchase an AC or refrigerator before the festivities begin.
How Much Will AC Prices Drop?
Currently, a 1.5-ton inverter AC from Lloyd was priced at approximately ₹34,490. With the new GST tax rate, it will be reduced to up to ₹31,804. The price of a similarly sized AC from Whirlpool will drop from ₹32,490 to ₹29,965. Blue Star AC prices will decrease from ₹35,990 to about ₹32,255. This means customers could save between ₹2,500 and ₹3,700 per model.
Impact on Consumers and the Market
This decision is beneficial for consumers, and on the other hand, traders are also expected to profit due to increased demand. Especially middle-class consumers, who had previously postponed their AC purchase plans due to high prices, will now show more interest. Experts suggest that this will create a festive atmosphere in the market during the holiday season.
The significant reduction in AC prices due to GST cuts brings good news for customers ahead of the festive season. ACs from several brands will now be more readily available at comparatively lower prices. According to market experts, this decision will aid in boosting sales in the electronics sector. Therefore, it is an opportune time for those looking to buy an AC. Stay tuned to our reports for the latest announcements and offers.
