Consumer durable makers are all set to today welcomed the government’s move which is going to bring — AC, washing machine, refrigerators — in lower GST slab, stated that this act will be considered as the catalyst for the industry.
The move and shift will also go to help the domestic manufacturing, and help in creating more employment opportunities, as stated by the Consumer Electronics and Appliances Manufacturers Association.
on white goods since July last year, The industry was demanding a lower GST rate, in the period when the GST was implemented.
“This is a welcome move by the government which has come at an impending time when we are just about to prepare ourselves for the upcoming festive season,” said CEAMA President Manish Sharma.
in its meeting held today for The GST Council decided and declared to reduce tax rates on several general-use items like TV (below 26 inches), washing machines and refrigerators from 28 to 18 percent.
As per the industry body, reduction in duty on TV sets up to 26 inch is all set to create more demand from the rural areas and village areas.
“The reduction of GST slab on television sets of up to 26 inches from 28 percent to 18 percent will certainly improve the product’s penetration and affordability in smaller towns across the country,” said Sharma.
Home appliances and electronic goods maker Haier has been also welcomed the move to a state that this will be going to boost for the industry.
“This should be a good boost to the industry. This would stoke the demand. Hopefully, we would see good growth in the Washing Machine for the rest of the year and good business in the AC next year,” Haier India president Eric Braganza said to the PTI.
Though, he also added that the government should have comprehensive this benefit to all sizes of TV panels.
Sharma who is also president and CEO Panasonic India and South Asia told that: “However, in order to improve the gamut of its use even further, we had hoped for TV sets of at least up to 43 inches to be taxed under the 18 percent tax slab”.
