Budget 2022: Lowering taxes, more R&D will stablise consumer electronics sector

Budget 2022: Lowering taxes, more R&D will stablise consumer electronics sector

AgenciesUpdated: Tuesday, January 25, 2022, 05:45 PM IST
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India Cellular & Electronics Association (ICEA) recommended a reduction in the GST rate on colour televisions, which, at 28 per cent for televisions above 32 inches (and 18 per cent otherwise), is inexplicably high. | PTI Photo

The government should consider lowering tax rate on consumer electronics and ensure a stable GST tax slab as this would encourage consumers to buy higher ASP (average selling point) products and stabilise the sector s, for the Union Budget 2022, says reports.

Avneet Singh Marwah, CEO, Super Plastronics Pvt Ltd (SPPL), a Kodak brand licensee, said that the electronics products should not exceed the 18 per cent slab.India can become the world's third-biggest market for televisions, leading to an estimated growth of 15 per cent in the market size, increasing to up to 16 million units annually."

The India Cellular & Electronics Association (ICEA) also recommended a reduction in the GST rate on colour televisions, which, at 28 per cent for televisions above 32 inches (and 18 per cent otherwise), is inexplicably high.

Pallavi Singh, Vice President, SPPL, India brand licensee of Westinghouse TV, said that given the current semiconductor shortage in the world, the government should aid the potential sector and afford schemes under the National Electronics Policy (NEP) 2019.

(With inputs from IANS)

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