A number of retailers and brands are giving special discounts to consumers in order to ensure that their sellers’ stock is cleared before GST came into fray.
The main objective of these commercial entities is to get rid off their stocks in order to reduce complicated legal guidelines pertaining to carrying over and claiming input credit under the new tax regime.
Paytm for example has come up with a ‘Pre-GST Sale’, hosting more than 6,000 retailers across 500 brands. Through this, you can get cashback and discounts on wide array of products like TVs, laptops, mobile phones, air conditioners, refrigerators, DSLRs and footwear.
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The landmark GST reform kicks in from July 1.
Majority of e-commerce companies have started getting involved the merchants on their platforms to make sure there is a smooth transition to the new taxation system.