From TV to fridge, tech firms like Samsung slash prices after GST rate cut

LG, Panasonic and Godrej Consumers have already announced a reduction in prices ranging from 7-8%

Welcoming the government's decision to slash Goods and Services Tax (GST) rates on over 50 items, including refrigerators, washing machines and small televisions, several consumer electronics companies, including Samsung, have promised that they will pass on the full benefits to the consumers.

The new prices will be applicable from July 27, Samsung India said in a statement.

"Samsung is a consumer-centric company. We are happy to extend full benefits, that is 7.81+ per cent of GST rate reduction to all our consumers," said Rajeev Bhutani, senior vice-president, consumer electronics, Samsung India.

"We believe it will fuel the demand for consumer electronics products now