Electronic retailers offer 20-40% discounts to clear stock and cut losses ahead of India’s July 1st GST rollout.
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.
