According to the Indian Fan Manufacturer’s Association (IFMA) and various industry players, electric fans which are under 28% GST bracket along with air conditioners are not a luxury item but an essential commodity and a poor man’s item. The IFMA has been proposing a reduction in the slab rate at 12 per cent bracket which includes items such as bicycles and mobile phones. Competition is very stiff in the Indian fan market and the industry operates on thin margins. Post-GST, price hike ... Read more
