Electronics major Samsung, which sells a range of products including TVs, fridges and washing machines, said that it has reduced prices by nearly 8 per cent to pass on the cut in GST rates to consumers, effective today.
In a recent report interaction with PTI, Samsung India Senior Vice President, Consumer Electronics Rajeev Bhutani informed that Samsung is happy to extend full benefits, i.e. (over) 7.81 per cent, of GST rate reduction to all their customers.
The company said it is fully compliant with government’s decision and will pass on the full benefits to the consumers. He further added that the company believes it will fuel the demand for consumer electronics products now and in the ensuing festival season.
LG, Panasonic and Godrej Consumers have already announced reduction in prices from 7 to 8 per cent extending the benefits to the consumers. PTI reported that welcoming the move, the Consumer Electronics and Appliances had said that this will provide a new impetus for growth especially before the upcoming festive season.