Shops, malls and online sites clearing stocks by offering heavy discounts 

Pune: A day before the Goods and Services Tax (GST) comes into effect, retailers from across the country, including shopping malls and online sites, are clearing their stocks by offering heavy discounts to customers. These offers are being lapped up fearing high prices post-GST.

Big Bazaar will keep its doors open for customers for a grand midnight shopping bonanza, which will take place between 12 am and 2 am on June 30 and July 1. Amazon has already been running a sale with discount up to 40-50 per cent on electronics and home appliances. Flipkart started its sale from Wednesday midnight itself.

Electronic stores have been offering concessions for over a month now, where most of the old stock has been sold out. Bharti Nirmal Customer Care Executive of Vijay Sales said, “We started the offer a month ago, which is up to 50 per cent and almost over 80 per cent of the stock has been sold out. Today, we expect more customers as it is the second last day before GST would be applicable. Mostly, customers are purchasing LEDs, washing machines and refrigerators.”

Consumers are confused about the GST rates as they are not purchasing any high range automobile or electronic goods. Vaijyanti Shevle, General Manager of Volkswagen, said, “There is five to six per cent increase in sales of hatchback cars, as people are only booking and waiting for the GST rates to be applicable. Once the new rates are applied, the booked cars will anyway have to be purchased at the new rates. However, a clear picture will emerge only after July 15.”

Afraid of the GST rates, some people are rushing to buy goods, while some are still waiting for the new rates to unfold. Priyanka Pise, IT professional, said, “I am afraid of increased prices on some goods such as luxury phones and cars. So, I have already purchased a phone but I am still waiting for the rates on cars.”

Mayank Sahal, a media professional, said, “As the overall picture is not clear as to which things would cost more. We have purchased home appliances at discounted rates from a mall. Also, we were thinking of buying a new car but are waiting for the GST rates as the rates would change marginally. So, there is no need to hurry for buying a car.”