Several social media posts and news reports have claimed that electronics like TVs and mobile phones, as well as household items are now cheaper under the new GST rates.
After the recent Goods and Services Tax (GST) meeting of the Ministry of Finance, many reports said that movie theatre food, electronics, and other household items have been cheapened due to the revisions in the GST rates of some products.
A graphic has been going viral on social media which claims that several daily use and household items have seen a major reduction in price due to the GST day of 2023, which was on July 1. The reports mentioned that the Centre has cut down the prices of many essentials.
A news report on a major national news site said, “In a major relief for the people of India, the Union Finance Ministry has announced a reduction in Goods and Service Taxes (GST) on the purchase of electronic items on the 6th anniversary of the GST implementation.”
The viral graphic on social media claims that the GST rates on TVs, washing machines, and refrigerators have been reduced from 31.3% to 18%, while for mobile phones, it has been slashed from 31.3% to 12%, leading to a major price reduction.
— Ministry of Finance (@FinMinIndia) June 30, 2023
Fact Check: Mobile phone, TV, fridge prices reduced?
According to a keyword search on ‘GST reduced tech products’, all the business websites and finance reports stated that there is no change in the prices or the GST rates for kitchenware, furniture, electrical equipment, bathroom and toilet fittings, refrigerators, TV and other daily use items.
In fact, the graphic tweeted by many news agencies and social media users was also uploaded by the Ministry of Finance but in a different context. The graphic actually shows how the prices of these products have changed as compared to pre-GST days, over six years ago.
This means that there is no change in the prices of these essential electronics and household items, and the GST rates for these products currently remain the same.