Consumer durables firm Godrej Appliances today said it has reduced the prices of its washing machines, refrigerators, microwave ovens and chest freezers by 10 per cent, passing the benefit of GST rate cut to consumers.
These products were earlier placed under the 28 per cent tax slab, which was recently reduced to 18 per cent.
"Godrej Appliances will be passing on the full benefit of the 10 per cent reduction in GST with immediate effect, providing an increased impetus to the upcoming festive sales," the company said in a release.
It expects the new prices, coupled with festive consumer offers, good monsoon and revision of the seventh pay commission, to provide a major fillip to festive sales growth to the tune of 12-15 per cent over last year's festive season.
Godrej Appliances business head and executive vice-president Kamal Nandi said, "The revision (in GST) will make refrigerators, washing machines, microwave ovens and chest freezers more affordable, which will accelerate the penetration of these appliances."
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