Prices of aspirational consumer electronic products such as large screen televisions, air-conditioners and dishwashers are going to reduce by 8-9% due to the 10 percentage points cut in their GST rates, chief executives said.
This would mean a net price reduction of at least ₹2,000 for 43-inch televisions and going up to ₹23,000 for 75-inch models, while ₹3,500-4,500 for air-conditioners and dishwashers.
“It’s an unprecedented move since never before has the government tax reduction been to such an extent in electronic categories. The prices will fall by around 8%, which will boost consumption in a major way,” said Haier India president Satish NS.
Satish said till September 22 sales will take a hit as people will now postpone purchases of these products. “But we expect it will be made up by pent-up demand,” he said.
