GST Smartphones and Other Electronics Reduced; What This Means for You?

Jul. 3, 2023

As what can be termed good news for us, GST on smartphones and more electronic goods has been slashed in India, thanks to the latest update by the Union Finance Ministry. The revised taxes on various categories can finally make things more affordable. But, will it? Here’s some clarity on this!

GST on Smartphones and More Decreased!

As part of celebrating six years of GST (Goods and Services Tax) in India, the Finance Ministry has drastically reduced the GST on smartphones, TVs, and various consumer electronics. A12% tax will now be leviedon mobile phones, which can lead to a reduction in their prices and happy news for us.

TVs (up to 27 inches), refrigerators, and washing machines will nowinclude an 18% GST. Home appliances like mixers, juicers, vacuum cleaners, geysers, and more have also seen a reduction.

The really high ‘31.3%’ number is thetax levied before GST was implemented. So, while a reduction has been announced, it isn’t as major has been portrayed!

This can also mean that the upcoming iPhone 15 series might not burn a hole in our pockets, considering apossible price hikeis in tow. This is good news as iPhones have always been way more expensive in India as compared to the US and other global markets due to the value of the Indian Rupee against the US dollar.

That said, it remains to be seen how this major change affects us directly. Will we see clear price cuts on smartphones from various OEMS? Will there be any hidden costs? All this is still unanswered and we will have to wait. Until then, do share your thoughts on the new tax reform and whether or not this will be a sigh of relief in the comments below.

Started off as a stranger but tech is more like a good friend, thanks to over 5 years in the industry. While everything is attractive about tech, phones, social media, and quirky gadgets attract me the most. When not working, I find my solace in shopping and everything that concerns doggos!