Electronic Retailers Offer Significant Discounts in Anticipation of GST Rollout
As India prepared for the GST rollout on July 1st, electronic retailers nationwide initiated major discount campaigns on white goods. These promotions, offering 20-40% off, aimed to clear existing stock and mitigate anticipated losses on older inventory under the new tax regime. Retailers expected losses of around 14% on year-old stock and 6% on transactions before May. This market activity was reported by The Economic Times.
Electronic retailers nationwide initiated substantial discount campaigns on various white goods in anticipation of the Goods and Services Tax (GST) implementation on July 1st. Many expensive household appliances were made available at price reductions ranging from 20 to 40 percent. This strategic move aimed to clear existing inventory before the new tax structure came into effect. The specific discount offered often depended on the original cost and age of the stock. Retailers projected potential losses of approximately 14% on inventories that were a year old or more, and about 6% on transactions completed prior to May. This information was initially reported by The Economic Times.