GST rate cut: Companies like Samsung, Godrej and others have announced the reduction in prices for some products following the GST rate cut on July 21. The GST Council had cut rates on over 100 items including some of the electronic goods such as TV, refrigerator, washing machine. The reduced GST rates kicked-in from July 27.
Samsung: Electronics major Samsung reduced prices by nearly 8% on applicable products. Samsung is popular for a range of products from TVs, washing machines and refrigerators.
Godrej: Godrej Appliances also said that it is reducing prices on products such as washing machines, refrigerators, microwave ovens and chest freezers by 7-8%.
LG and Panasonic: Electronics giant LG has reportedly cut prices by 8-9% on the products, while Panasonic has reduced prices by 7-8%.
Glen: This online kitchen appliance store has reduced prices on small kitchen appliances. You can find new prices for the products on Glen’s website.
Havells: Havells too has cut prices on electronics by 7-8%.
Overall, refrigerators, freezers, other refrigerating or freezing equipment, water cooler, milk coolers, ice cream freezer, washing machines, televisions up to the size of 68 cm or 27 inch, vacuum cleaners, food grinders and mixers, food or vegetable juice extractor, shaver, hair clippers, storage water heaters and immersion heaters, hair dryers, hand dryers, electric smoothing irons, laundry machines etc are getting cheaper. Air conditioners are still one of the 35 items left in the 28% tax bracket.