GST brings Diwali early as retailers offer – IndiaTimes
For shoppers of white goods, the singeing summer has brought a cool Diwali gift. Costly home appliances are now available at 20-40 per cent discounts, as electronic-goods retailers rush to clear their old inventories ahead of the July 1 rollout of the goods and services tax (GST) and minimize their losses.
Television-sets, refrigerators, air-conditioners and washing machines now have their price tags slashed. Discounts vary, depending on the life of the old stock and the cost price: ..
The discounts are available even after the GST Council increased excise credit to 60 per cent from 40 per cent on the transitional stock during its last meeting on June 3.
The usual discount offered by the retailers is around 10-15 per cent on maximum retail price (MRP) and it will now significantly go up -about three-fold.
SOURCE : INDIATIMES