PANAJI: It was a ‘buyers’ market’ in Goa a day before GST regime kicked in, as consumers were offered tempting discounts by traders and dealers to clear consumer goods like television sets, mixer grinders, induction cookers, refrigerators and air conditioners, which will now come under 28 per cent slab of GST.
“There is a sudden rush to clear stocks as many dealers don’t understand how input tax credit will work,” said Paresh Mehta, an electronics dealer in outskirts of the city.
Most of the dealers in the city tried to clear stocks to avoid double taxation and also to embrace GST. Depending on product category, lifespan of the stock and prices, discounts in the range of 10 per cent to 30 per cent were offered.
“The demand for home appliances was good on the day before the GST regime kicked in and so were the discounts, which went up to Rs 500 on certain models. There will be hike in the tax from the existing 12 per cent to 28 per cent,” said Gaurish Shirodkar, proprietor of an electronics retail outlet in Panaji.
Consumers were also seen cashing in on last-minute ‘deals’ buying essential items at various supermarkets. There was also mad rush of consumers at mobile recharge outlets.
“The distributor of inner garments and apparels has informed us that in the first two weeks after the GST launch no stock will be made available. Hence retailers will hoard the old stock and sell it at GST rate without offering no discounts to buyers,” a smalltime trader in the CCP market said.
Some of the products that will see major changes in the rates are instant coffee, perfumes and deodorants, fans, air-conditioners, refrigerators, wristwatches, two-wheelers and four-wheelers and wristwatches.
Even some branded wristwatches are offered for sale online at 80 per cent discount.
