GST rate cut: AC, fridge, other white goods set to get cheaper

Only luxury or sin goods are likely to stay in the 28% slot

The GST Council is likely to cut the tax rate on electronic items such as washing machine, refrigerator and air conditioner, which are in the top 28 per cent slot, in the next round of rationalisation.

Last week, the Council overhauled the new tax regime, reducing the 28 per cent tax levied on 178 items to 18 per cent or lesser. Most important of them all, the Council decided to slash the GST rate on AC and non-AC restaurants to 5 percent from the current 18 per cent slab. The new rates have been effective