The approval of GST 2.0 is a landmark reform in India’s tax journey. By simplifying the structure and creating predictability, it lays a stronger foundation for growth- with stimulated demand and ease of doing business.
We extend our gratitude to the Hon’ble Prime Minister, the Hon’ble Finance Minister, the Finance Ministry, the GST Council, and the States for their leadership in advancing this historic reform.
The reduction of GST on Air Conditioners and Televisions from 28% to 18% is especially welcome. This long-standing demand of the industry will make appliances more affordable, unlock domestic demand, and boost consumption, which is vital for scaling India’s electronics manufacturing.
We also remain hopeful that the rationalisation of GST on smartphones and laptops from the current 18% to 5% will be considered in the future, given its potential to improve affordability and strengthen digital inclusion.”
