GST Rate Cut: TVs up to 27-inches, power banks, video games, fuel cell and electric vehicles to get cheaper

The GST Council in its 28th meeting has pruned the 28% slab by cutting tax rates on 191 goods, leaving just 35 items, including AC, digital camera, video recorders, and automobiles, in the highest tax bracket. GST for 15 items including Televisions up to the size of 68 cm (27-inches), Lithium-ion batteries used in power banks and electric vehicles, vacuum cleaners, washing machine, video games are now down from 28% to 18%. The council has brought down GST of Fuel Cell Vehicle from 28% to 12%, giving a boost for alternative fuels. Further, Compensation cess shall also be exempted on fuel cell vehicle, said the council. 28th #GSTCouncilMeet: #GST on Fuel Cell Vehicle. reduced to 12% from 28%, for the betterment of the environment 📖https://t.co/kb011I6xt1 pic.twitter.com/3M9bdyGw6e — PIB India (@PIB_India) July 22, 2018 These new GST rates will be implemented from July 27. We can expect announcements from the companies regarding price cuts of these products soon. Welcoming the new move, Nidhi Markanday, Director, Intex Technologies, said: The move by the Government to cut GST in product segments like Televisions (below 68 cm), Washing Machines, Refrigerators and even Powerbanks from 28% to 18% is indeed a very welcome and much awaited move. The move by the Government to ...