The GST Council meeting is happening in Delhi on 3–4 September. In this meeting, there is talk about making the tax slabs simple and reducing tax rates. If the tax comes down, the price of daily items and big products like AC, TV, fridge and washing machine may also go down.

Plan for two GST slabs

As per reports, there is a plan to remove the 12% and 28% slabs. Only two slabs may remain – 5% and 18%.

AC, TV, fridge and washing machine may get cheaper

AC: At present AC has 28% GST. If it comes down to 18%, the price may drop by 6–7%. Customers may save ₹1,500–2,500 per AC.

TV: TVs bigger than 43 inches have 28% GST now. If it becomes 18%, the price may go down by ₹2,000–3,000.

Fridge: Right now fridges are in the 18% slab. If they are put in the 5% slab, the price may reduce a lot.

Washing machine: Washing machines also have 18% GST. If it becomes 5%, the customer will get direct relief.

Final decision tomorrow

The meeting will continue till 4 September. After that it will be clear which products will get lower GST and how much relief customers will get in this festive season.