Demand boost seen for air conditioners, TVs, dishwashers

Electronic goods manufacturers on Thursday said they expect demand to boom after the goods and services tax (GST) on air conditioners (ACs), dishwashers and TVs was reduced from 28 per cent to 18 per cent.

- SHARLEEN D'SOUZA

However, company executives say that customers and retailers are holding back on buying till 22 September as lower rates kick in.

"Lower GST directly stimulates demand for ACs and large TVs, expanding the market size for domestic producers," said the Ministry of Electronics and Information Technology in a statement on Thursday after the GST council decided to cut taxes on most items of everyday use, premiums on insurance policies and vehicles from September 22.