India, Sept. 9 -- The recent next-gen reforms in Goods and Services Tax (GST) are set to boost sectors under the Ministry of Electronics and Information Technology (MeitY), particularly consumer electronics and ICT hardware. The rate reductions will make essential products more affordable for citizens while strengthening domestic manufacturing, supporting MSMEs and start-ups, and advancing the goals ofDigital IndiaandAatmanirbhar Bharat.
Boost to Domestic Electronics Manufacturing
The reduction in GST on air conditioners, dishwashers and large-screen televisions (LCD and LED) from 28 percent to 18 percent is expected to expand domestic demand while enhancing affordability for households. This is likely to create stronger backward linkages...