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Samsung Electronics, which sells a range of products including TVs, refrigerators and washing machines, announced today that it has reduced its prices by nearly 8% to reflect the drop in GST tariffs on consumers.
on applicable products, are effective from today, the company said in a statement.
The South Korean manufacturer expects this decision to fuel demand as the year-end holiday approaches
"We are pleased to offer all benefits, a 7.81% reduction in the GST rate to all our consumers. " "Said Rajeev Bhutani, vice president of Samsung India in charge of consumer electronics.
The company stated that it was fully consistent with the government's decision and that it would pbad on all the benefits to consumers
. Last week, the GST Board lowered tax rates to 18 percent from 28 percent on 15 items, including vacuum cleaners, washing machines, 68 cm (27 inches) TVs, refrigerators, lava -linge, paint, hand dryer, grinder and varnish
In accordance with the GST notification, the new service slabs are in effect as of today.
Consumers of LG, Panasonic and Godrej already have announced price reduction from 7 to 8 The Association of consumer electronics manufacturers and home appliances praised this decision and stated that this would give a new impetus to growth, especially before the next holiday season
(This story was not edited by the staff of Business Standard and automatically generated from # 39, a syndicated flow.)
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