GST rate cut: Refrigerators, washing machines, kitchen appliances to be cheaper from today

GST rate cut: Refrigerators, washing machines, kitchen appliances to be cheaper from today

Consumer appliances like refrigerators, washing machines, small screen TVs, vacuum cleaners and sundry kitchen essentials will now cost 7-8 per cent less, as companies prepare to pass on the benefits of the recent GST revisions. Last week the Modi government had announced the biggest GST rate cut since last November and slashed the levy on several white goods and commonly used kitchen appliances like mixer-grinders and juicers by 10 per cent – from the highest tax bracket of 28 per cent to 18 per cent. The new rate comes into effect today.

According to The Economic Times, with this development, the total taxation amount on several consumer electronic products is now lower than what it was during the earlier VAT regime, when it stood at around 26.5 per cent. Better still, industry insiders claim that prices will come down to nearly a two-year low.

“With the revision of GST rate on refrigerators and washing machines, there will be a reduction of price to the tune of 7-8 per cent for the end consumer. Godrej will pass on the entire benefit of GST reduction to the consumers,” said Godrej Appliances Business Head and Executive Vice President Kamal Nandi, adding that the rate cut will provide relief to the appliances industry.

“The revision will make refrigerators and washing machines more affordable which will accelerate the penetration of these appliances across India. This, in turn, will lead to a spur in demand which will lead to increase in production and, hence, have a positive impact on the GDP,” he explained.

Korean consumer durable majors LG has likewise committed to pass on the full benefit of the GST rate cut to the consumers. Citing sources in the know the daily added that the company has dropped prices by 8-9 per cent, while Samsung and Godrej will be reducing prices by more than 7.81 per cent across all products that got a tax cut. Panasonic’s net price cut is between 7-8 per cent.

The price cuts vary because some companies have passed on the complete benefit of the tax cut while keeping dealer prices intact but some brands have also reduced the dealer price, thus increasing the net price cut. The tax component is calculated on dealer price to arrive at the product’s maximum retail prices.

So LG has revised the price of its 335-litre frost-free refrigerator price from Rs 46,490 to Rs 42,840 – a price drop of 8.5 per cent – and a 6.2 kg top load washing machine is now 8.7 per cent cheaper at Rs 18,390. On the other hand, a Godrej 190-litre direct cool refrigerator is now priced 7.8 per cent lower at Rs 15,257, against Rs 16,550 earlier.

Godrej Appliances business head Kamal Nandi told the daily that for the stock already in trade, the manufacturers will supply new pricing labels to the retailers mentioning the new MRP, which they will stick on the product packaging. So if you are going shopping for one of the products that recently enjoyed a tax cut, check for reduced prices before you pay up.

The industry is optimistic that the tax cut will fuel demand and provide a new impetus for growth, especially ahead of the upcoming festive season. The Indian consumer, after all, has largely been holding back on discretionary spending since demonetisation in November 2016.

“The goods to benefit the most will be washing machines and refrigerators, where we expect growth to pick up substantially. The reduced taxes in television sets of up to 26 inches will ensure increased penetration and affordability in smaller parts of the country. We plan to pass on the complete benefits translating to around 7-8 per cent,” said Manish Sharma, president and CEO, Panasonic India and South Asia and President, CEAMA.

However, if you are planning to buy a larger-sized LED TV – 32 inches or more – you’d best do so in a hurry. Because the buzz is that their prices will go up next month.
[“source=indiatoday]

Pebble 2 + Heart Rate Goes Up for Pre-Orders; Pebble 2 SE to Become Available in November

Pebble 2 + Heart Rate Goes Up for Pre-Orders; Pebble 2 SE to Become Available in November

Pebble 2 + Heart Rate Goes Up for Pre-Orders; Pebble 2 SE to Become Available in November
HIGHLIGHTS
Pebble 2 + Heart Rate has been priced at $129.99
Pebble 2 SE has been priced at $99.99
Smartwatches to be made available later this year
Pebble’s first smartwatch created more than just ripples in the tech industry when it was launched back in 2012. However, with the release of other smartwatches over the years, the initial charm of the wearable has been lost to quite an extent. After introducing the Pebble 2 and Time 2 on Kickstarter in May the Pebble 2 and Pebble Time 2, the company has slightly re-branded the former and launched them for regular buyers. The Pebble 2 without a heart rate sensor is being called the Pebble 2 SE (or Standard Edition) while the variant with a sensor is being called the Pebble 2 + Heart Rate.

The Pebble 2 + Heart Rate is priced at $129.99 (roughly Rs. 8,700) and the and Pebble 2 SE at $99.99 (roughly Rs. 6,700) respectively. While the former is available to pre-order in five colours, with shipments beginning this month, the latter will go up for pre-orders soon in Jet Black, and start shipping in November. The Pebble 2 + Heart Rate, as the name suggests, comes with a heart rate sensor that allows you to monitor your heart rate while doing various physical activities. The smartwatch is optimised for use with company’s Pebble Health app and comes with an inbuilt Workout app.

“Pebble Health automatically detects long walks, runs, and naps, feeding you a performance summary when you’re finished. Dive deeper into your stats with beautiful in-app graphs. Tap and drag on your mobile graphs for targeted views of your step and heart rate stats at specific times. Sync with Google Fit or Apple’s HealthKit to paint an even clearer picture of your overall wellbeing,” company said in its official blog.
The company claims that the battery life on Pebble 2 can last up to seven days, making it possible for the watch to track your sleeping patterns. The smartwatch further allows you to choose the apps that are able to send notifications to your phone. It provides water resistance up to 30 metres.

The Pebble 2 SE is otherwise identical to the Pebble 2 + Heart Rate, but forgoes the heart rate sensor.

Tags: Pebble 2 Heart Rate, Pebble 2 SE, Wearables, Smartwatches, Pebble Smartwatch Launch

[“Source-Gadgets”]

Xiaomi Mi Band 2 With Oled Display, Heart Rate Sensor Launched at Rs. 1,999

Xiaomi Mi Band 2 With Oled Display, Heart Rate Sensor Launched at Rs. 1,999

HIGHLIGHTS

  • Mi Band 2 features Oled display
  • It will be available via Mi.com and Amazon India
  • It is compatible with both Android and iOS devices

Xiaomi has unveiled its second-generation fitness tracker in India, the Mi Band 2. Priced at Rs. 1,999, the Mi Band 2 (Review) will be going on sale via Mi.com from September 27 and will later be available via Amazon India from September 30. The company also launched the Mi Air Purifier 2 in India on Wednesday.

(Also see: Mi Band 2 Review)

The new Xiaomi Mi Band 2 packs a host of improvements over its predecessor including an all-new Oled screen and the much-requested heart rate sensor. To recall, the original Mi Band was launched back in April 2015 and was priced at Rs. 999 in India. The Mi Band 2 was initially launched in June in China.

 

The new Mi Band 2, similar to other existing wearable devices in the market, focuses on the user’s health by helping track fitness and sleep patterns. One of the biggest additions to the new Mi Band 2 is the 0.42-inch Oled display which shows time, steps taken, and heart rate count among others. Another notable addition is the PPG (photo plethysmography) sensor as a heart rate monitor. The new Mi Band 2 packs a 70mAh battery which the company claims up to 20 days of standby time. The first generation Mi Band which featured no display had a battery life of up to 30 days.

Much like the original Mi Band, the new band vibrates to alert users about incoming calls, alarms, and notifications. The Xiaomi Mi Band 2 will be compatible with devices running Android 4.4 and above as well as iOS 7.0 and above.

The new Mi Band 2 wearable supports Bluetooth 4.0 LE for pairing with the smartphone. It comes with 40.3mm length, a width of 15.7mm, and a side width of 10.5mm. The company listing says that the Mi Band 2 weighs just 7 grams. For user comfort, the Mi Band 2 is built of skin-friendly thermoplastic elastomers material and flaunts aluminium as well. Much like the original Mi Band, the new band will be available in Black, Blue, Green, and Orange colours. The device is water resistant with IP67 certification.

Tags: Wearables, Xiaomi, Xiaomi Mi Band 2, Xiaomi Mi Band 2 Price, Xiaomi Mi Band Specifications, Mi Band 2 Price,Mi Band 2 Price in India

 

[“Source-Gadgets”]

The business wrap: Nirmala Sitharaman calls for 2% RBI interest rate cut, and six other top stories

A look at headlines in the sector right now:

  1. Nirmala Sitharaman calls for 2% RBI rate cut to boost MSME growth: The minister said the Micro, Small and Medium Enterprise sector is ‘hard pressed for money’ because of the current interest rate set by the central bank.
  2. Walmart, other US retailers to investigate Welspun India products after Target cancels contract: The textile company’s market value dropped by nearly 50% after Target accused it of passing off standard cotton sheets as premium Egyptian ones.
  3. Centre, Monsanto dispute escalates as company pulls GM cotton seeds to protest technology sharing: The biotech giant and the government are also at odds over how much can be charged for its genetically modified seeds.
  4. Railways to start talks with Facebook to offer free Wi-Fi at rural stations, nearby villages: The social media company recently concluded a pilot programme for its Express Wi-Fi service across 125 locations in rural India.
  5. Government may soon allow calls and Wi-Fi facilities in Indian airspace, says aviation secretary: Earlier, security agencies did not have technology to monitor data transmission over Indian airspace, which the Centre is now hoping to resolve.
  6. Tata Power crosses 2 million consumer base in India: The country’s largest integrated power firm said it remains committed to provding reliable and uninterrupted power supply at competitive prices.
  7. Centre approves rail infrastructure projects worth Rs 24,000 crore: The Cabinet Committee on Economic Affairs cleared the massive line expansion programme, which involves track construction of a total length of 1937.38 km at an estimated cost of Rs 24,374.86 crore.

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