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It Is Raining Discounts as Electronic Retailers Prepare for GST
Updated on: Jul 14th, 2021 - 8:41:00 AM
3 min read
Updates from 06th June, 2017
Electronic retailers across the nation have started to offer heavy discounts on all white goods purchased before the GST rolls out on July 1st. Costly home appliances are currently available at 20-40 percent discount, as retailers rush to clear old stock before the new tax regime comes in.
Discounts depend on the cost price of the old stock and its life. Retailers expect to incur a loss of about 14% on all inventories that are one year or older and about 6% on all transactions before May.
As reported in The Economic Times
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