May 27, 2018, 10:53 pm IST
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Beating the GST deadline

Beating the GST deadline

S. Shivadas, Jun 15, 2017

The road blocks the Goods and Services Tax have to surmount never seems to end. Just after almost all states have fallen in line more or less, the retailer traders have now come up with an innovative way to defeat its purpose.

Already mobile phones have started ringing with offers of discounts and concessions for goods that had till now been pricy and hard to get. Online platforms, always the quickest to take off the starting block and offline retail stores are offering mouth-watering discounts in an effort to beat the July 1 deadline when the GST comes into force.

Here are two main reasons for this; one is the paperwork that would have to be done once the new levy comes into force. The other is that even with lower margins this would help them to start afresh, the logic they apply while offering the end of season stock clearance sales. This is also an opportunity for them to get rid of slow moving stocks of refrigerators and electrical appliances before getting ready for the new inventory.

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