GST Rate Cut: TV, AC, refrigerator, dishwasher to get cheaper by up to ₹85,000 from today; check new rates

GST Reforms Today: Hundreds of items, including kitchen staples, electronics, medicines, cars and bikes, and more will get cheaper from Monday, September 22, as the government's reduced GST rates will kick in from today.

About 375 items will now get cheaper in a festive bonanza to consumers as the the GST Council decided to reduce tax rates on goods and services, from September 22 — the first day of Navratri.

In an address to the nation on Sunday, Prime Minister Narendra Modi said that the GST rate cut will ease financial burdens on citizens, making houses, vehicles, and consumer goods more affordable.

“Now, there will now be only 5 per cent and 18 per cent tax slabs in GST. Most everyday items will become cheaper. Food items, medicines, soap, brush, paste, health and life insurance, many such goods and services will either be tax-free or only have 5 per cent GST,” PM Modi said.

Not only are essential items undergoing GST rate cuts today, aspirational items including AC, TV, fridge and dishwashers are getting cheaper too, in a boost for the middle class.

From Monday, mass consumption items like ghee, paneer, butter, 'namkeen', ketchup, jam, dry fruits, coffee and ice creams, and aspirational goods like TV, AC, washing machines are getting cheaper.

Here is a breakdown of how much TV, AC, fridge and dishwasher prices are going to be, after GST reforms.

GST reforms: How much will TVs cost now?

TV prices will reduce by up to ₹85,000 as television makers are lowering the prices to pass the GST benefits to customers beginning Monday. The GST on TVs with screen size above 32 inches have reduced to 18 per cent from the earlier 28 per cent.

TV makers have already announced price cuts in the range of ₹2,500 to ₹85,000, depending on the screen sizes and specifications. Sony, LG and Panasonic, have come up with a new price list with reduced MRP from today.

Sony India is reducing MRP ranging between ₹5,000 and ₹71,000 on its Bravia TV models having screen sizes of 43 inches to 98 inches. LG TV price cuts will range from ₹2,500 to ₹85,800 for screen sizes of 43 inches to 100 inches. Panasonic has also reduced the MRP tags ranging between ₹3,000 and ₹32,000.

What will be the price of ACs after GST rate cut?

Meanwhile, air conditioner prices will also be reduced from today after the GST rate cut. The GST on AC has been reduced from 28 per cent to 18 per cent, and companies are passing on the benefits to consumers.

Voltas, Daikin, Godrej Appliances, Panasonic, and Haier have announced AC price cuts.

Godrej Appliance is reducing MRP ranging between ₹8,550 and ₹12,450 on cassettes and tower ACs. While on split AC inverter MRP reduction is ranging from ₹3,200 to ₹5,900.

Haier has reduced MRP of its Gravity (1.6 ton inverter) AC by ₹3,905 to ₹46,085 and ₹3,202 on Kinouchi AI (1.5 ton 4 star) AC to ₹37,788. Daikin's 1 ton 5 star inverter split AC MRP has been reduced to ₹18,890 from ₹20,500.

LG has slashed its entry level AC prices. LG ACs of 1 ton 3-star inverter split AC is now priced at ₹32,890 with a GST benefit of ₹2,800. MRP of LG's 1.5 ton inverter split AC has been reduced by ₹3,600 to ₹42,390. It has cut 2 ton split AC prices by ₹4,400 to ₹55,490.

GST cut: Are refrigerators getting cheaper?

Refrigerators are also expected to get more affordable after the GST rate cut. According to a report by the Economic Times, Godrej Appliances will reduce its refrigerator prices by 7 to 8 per cent. Meanwhile, LG fridge prices are reported to come down by 8 to 9 per cent.

Will dishwasher prices be slashed after GST reform?

Dishwasher prices are getting cheaper after GST benefits as the GST rate on dishwashers has been reduced to 18 per cent. BSH Home Appliances has reduced its dishwasher prices by up to ₹8,000. Its entry-level model will cost ₹45,000 from ₹49,000 while the top model will cost ₹8,000 less at ₹96,500.

(With agency inputs)