The Indian government is here with a big Diwali surprise for all the Indian fans! A significant relief has been brought about by the new GST rates on mobile phones, ACs, and other prominent electronic appliances. The concessions are on all sectors of goods and services, ranging from cars, MSMEs, luxury items, food items, and mobile phones and electronics. So, what are the new GST rates, and will your phones get cheaper with this? Let us know inside this news story.
New GST Rates By Modi Government: Find Out How Much GST On Mobiles Will Be
The NDA rule government is bringing some major financial reforms. In the past, it reduced income tax rates and exempted low-income groups from taxes, bringing a sigh of relief.
Now, with these new GST rates, the government is trying to foster the business economy, and the mobile industry as well.
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What Are The New GST Rates?
The government has now simplified the GST mechanism and erased the 12 per cent and 28 per cent GST schemes. There will only be 2 GST rates now in India, which are 18 per cent and 5 per cent.
A Big Relief For Electronic Items
This move by the government ensures a big surprise for the electronics market. The electronics GST benchmarks have now been reduced, and the market is set to prosper with this announcement.
Here are the new GST rates on Electronics
| Items | GST Rate Before | GST Rate Now |
| AC | 28% | 18% |
| TVs | 28% | 18% |
| Monitors And Projectors | 28% | 18% |
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GST On Mobiles: How Much You Will Have To Pay Now
The current GST on mobile phones are 18 per cent. This rate is not said to have decreased, as per the government announcement. However, a concession might be given in the near future. But no changes or new GST rates for mobiles have been announced, as right now bringing mobile phones right under the 5 per cent slab from 18 per cent will not be feasible for the government.
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