Fridge, washing machine and TV to see price hike after GST
After GST Fridge, washing machine and TV Price goes high. GST (Goods and Service Tax) is likely to come into effect from 1st July 2017, it has ushered in a sale spree at all consumer goods. According to the latest reports, there is 85% to 90% increase in durable sales. This increase in sales is to be attributed to up to 45 percent discount for clearing inventory ahead of GST.
Most of the consumer durable under GST have absorbed a tax rate of 28 percent. Home appliances including fridge, TV, air conditioners, washing machines, etc are likely to turn costlier from July.
This brisk business is not just for the brick-and-mortar stores, but online stores such as Amazon, Flipkart, etc are flourishing with massive sales and discounts on electronic goods.