:Indian fan manufacturers on Thursday sought lower GST rate at 5 per cent on fans, saying the existing 18 per cent tax is "adversely" impacting the industry.
The lower GST (goods and services tax) slab would make the fans a promptly accessible commodity for everyone by increasing grass-root level penetration, exceptionally in rural India, the Indian Fan Manufacturers Association (IFMA) said in a statement after its virtual Annual General Meeting.
The fan industry lost around 35 per cent of its annual sales due to the outbreak of COVID-19 this year during the peak sale period, causing huge financial losses for fan companies, said the association.