GST Reform Spurs Festive Shopping Surge
As the revised GST rates take effect, sales of air conditioners and TV sets soared, with consumers eager to capitalize on lower prices during the Navratra festival. The GST Council's reform aims to boost consumption with a two-rate tax structure, reducing prices for many everyday items.
- Country:
- India
As new GST rates were implemented on Monday, there was a significant surge in sales of air conditioners and television sets. Retailers offered attractive deals at the onset of the Navratra festival, prompting consumers to capitalize on reduced prices.
The introduction of a two-tier GST structure, replacing the previous four-rate system, brought down the costs of daily essentials and durable goods like food, toiletries, and white goods. This reform by the GST Council is designed to stimulate nationwide consumer spending.
Home appliance dealers reported a noticeable increase, with many experiencing double sales compared to regular Mondays. The sentiment among industry leaders is optimistic, anticipating further sales growth as the festive season progresses until Diwali. The revised prices for essentials and electronics are a boon for consumers, leading to increased transactions.
(With inputs from agencies.)
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