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With Tax Rates Increased Under GST Regime, Retailers Slash Discounts
July 31, 2017
As the tax rates have increased on the kitchen appliance and white goods under the GST system by as much as 3%, the retailers have adapted by reducing the additional discounts that they were giving on these items so far.
Business head of Godrej Appliances, Kamal Nandi said retailers used to give as much as 8% discounts on the market operating prices which are 3%-10% lower than the maximum retail prices (MRP). However, now that the tax rates have increased, the retailers have reduced these discounts to 6% instead.
