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ACs, TVs to Cost More Under GST Regime
May 25, 2017
As the Goods and Services Tax is set to be rolled out on July 1, the prices of ACs, TVs, refrigerators, etc. are likely to inflate by about 5%. This is because the GST council has proposed a 28% GST on consumer electronics as compared to the current 23%.
Experts say that the increase in prices may have a negative impact on the demand, even if temporarily. However, Panasonic India president Manish Sharma said that while the 4-5% increase in prices may lead to fewer sales during July-August, the market will become stable once again by the festive season and the demand will increase.
