NEW DELHI: There is good news for buyers of top consumer segments such as small cars, two-wheelers under 350cc, ACs, TVs (over 32’inches) and dishwashers. The GST Council has cut the GST rates on the products from 28% to 18%, which will see significant cuts in consumer prices.Finance Minister Nirmala Sitharaman said that the decision was taken in order to give relief to the common man. Bikes above 350cc have not seen a cut in GST rates which is a big setback for Royal Enfield.Sitharaman said the new rates will come into effect from September 22.Buses, trucks, 3-wheelers and ambulances will also see a reduction in prices as GST has come down from 28% to 18%.Companies whose products will see significant cuts on small car prices include Maruti Suzuki, Hyundai, Tata Motors and Renault. In two-wheelers, companies such as TVS and Honda Motorcycle and Scooter India will also gain.AC companies such as Voltas, LG, and Samsung will also pass on the benefit to consumers, while a similar exercise will be done by TV and dishwasher makers.
