- Many retailers offering discounts in view of dip in sales on GST rollout
- Electronic items set to become get dearer after GST
- Opportune time for offline retailers to offload inventory, says Paytm
Prices of items like LED televisions, air conditioners and washing machines have been slashed the most as they fall in the 28 per cent GST slab, a jump from the current 23 per cent tax rate.
Retailers are announcing hefty discounts to clear inventories ahead of the GST rollout, say some analysts.
Online retail giants Flipkart and Amazon have slashed prices in segments ranging from fashion, home appliances, mobile accessories, watches, leather products and health and beauty products.
Meanwhile, the GST Council last week lowered tax rates for 66 items, placing products such as cutlery, pickles, ketchup, mustard sauce and toppings at a lower tax slab of 12 per cent compared with 18 per cent earlier.
Disclosure: Paytm's parent company One97 is an investor in NDTV's Gadgets 360.
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