Summary:
LUDHIANA: The decision of GST Council on Saturday to reduce GST on several items including electronics, paints, cosmetics etc from 28% to 18% is being hailed by city traders dealing in these items. According to the businessmen, the tax reduction will not only help boost sales, but also benefit customers the most who will be passed on the benefit in case of price reduction of these items by the manufacturers. However, the GST Council should also think about reducing the GST on LED televisions upto 32 inches size, instead of 28 inches decided in its meeting.”Speaking to TOI, Saurabh Dhawan, a cosmetics dealer, said: “We welcome the decision of GST Council to reduce the rate of tax on perfumes and cosmetics to 18%, which is 10% lesser than the present rate of tax. We will pass on the rate cut to consumers whenever manufacturers do the same. Once the new rates come into effect, the prices will be adjusted accordingly by the companies manufacturing these products, and we are hoping our sales pick up.”.