NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / GST-cut: Refrigerators, washing-machines, vacuum-cleaners are now 8-10% cheaper
    Business

    GST-cut: Refrigerators, washing-machines, vacuum-cleaners are now 8-10% cheaper

    GST-cut: Refrigerators, washing-machines, vacuum-cleaners are now 8-10% cheaper
    Written by Gogona Saikia
    Jul 27, 2018, 01:12 pm 3 min read
    GST-cut: Refrigerators, washing-machines, vacuum-cleaners are now 8-10% cheaper

    If you were looking to buy a refrigerator, washing machine, vacuum cleaner or a small-screen TV, now is the time: industry insiders say prices will fall to a two-year low after the biggest GST rate cut since November, that was announced last week. Godrej, LG, Samsung and Panasonic have confirmed they will cut prices by 8-10% for various appliances.

    Most companies are passing all benefits to customers

    Godrej has said it will pass on "the entire benefit of GST reduction" to consumers, which means a cut of 7-8% on refrigerators and washing machines. LG has acted similarly, affecting drops of 8-9%. For Panasonic, the drop will be between 7-8%. Samsung has confirmed cuts of more than 7.81%. The cuts vary as some dealers have also reduced dealer price, thus increasing the net cut.

    Here's what it exactly means

    If you are looking for exact numbers, here's what it means: the price of LG's 335-litre frost-free refrigerator will go down from Rs. 46,490 to Rs. 42,840 - an 8.5% drop - while a 6.2kg top-load washing machine will now cost 8.7% cheaper at Rs. 18,390. Meanwhile, a Godrej 190-litre direct cool refrigerator will now cost Rs. 15,257 instead of Rs. 16,550 - a 7.8% cut.

    Check price labels carefully before buying

    Godrej Appliances Business Head Kamal Nandi has a word of warning: for the existing stock, companies will provide dealers labels mentioning the new MRP, which will then be stuck on the packaging. So if you are going shopping, check carefully for the latest prices.

    These items are also getting cheaper

    Apart from these, a host of items are getting cheaper after drastic cuts. GST has been reduced from 28% to 18% for paints and varnishes, lithium-ion batteries, mixer-grinders, hair dryers, TVs (up to 68cm), scent sprays and more. GST on handbags, wooden painting frames, stone art ware, ornamental framed mirrors and glass statues, among others, has fallen from 18% to 12%.

    For these items, GST is now zero

    For items like stone/marble/wood deities, sanitary napkins, sal leaves and their products, rakhi, coir pith compost, phoolbhari jhadoo, khali dona, and circulation and commemorative coins sold by SPMCIL to the finance ministry, GST has dropped from 18%, 12% or 5% to zero.

    Meanwhile, Domino's gets notice for not passing on GST-cut benefits

    The Directorate General of Anti-Profiteering has issued an investigation report to Domino's for not passing on benefits to consumers after a GST cut of 18% to 5% last November, and was instead doing so selectively. Jubilant FoodWorks, which operates the chain in India, confirmed it has received the notice, but asserted it believes it has passed on the benefits adequately.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    India
    LG
    Panasonic
    GST

    India

    Despite good-economic-growth, India way behind in overall happiness ranking: Pranab Pranab Mukherjee
    MS Dhoni is more popular than Virat Kohli, Sachin Tendulkar Cricket: News, Stats and more!
    4 Indians in Fortune's list of influential people under 40 General Motors
    #FreshOffBuzzTown: Priyanka Chopra leaves 'Bharat' to marry Nick Jonas? Bollywood

    LG

    Auto fares in Delhi to increase roughly 30% Aam Aadmi Party (AAP)
    Delhi: Pay just Rs. 50 to get key government-documents home-delivered Aam Aadmi Party (AAP)
    Supreme Court: High time L-G gets Delhi's garbage cleared Supreme Court Of India
    Delhiites, apply for and get driving license, RC at home Delhi Government

    Panasonic

    Panasonic P9 launched with a price tag of Rs. 6,290 India
    #TechBytes: 5 best smart refrigerators you can buy Samsung
    TV, consumer appliance prices to increase by 7% next month India
    Panasonic launches new Android TVs, price starts at Rs. 30,000 India

    GST

    Now, only 35 goods in highest 28% tax-bracket of GST India
    After backlash, sanitary napkins finally exempted from GST India
    First, RaGa says PM can't see eye-to-eye, then hugs him Narendra Modi
    Here's your 'Weekly Industry Insight' for all your stock decisions India

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023