The commodity and service tax will be applicable to all over the country from 12 noon on June 30. That is, when people wake up on July 1, the new tax system will be implemented in the country. After the GST has been implemented, every item and service will have to pay the same tax as what GST Council has proposed. That is, some items will now have to pay more than ever before, then fewer on some. Meanwhile, in the online retail companies, there is a competition to discontinue discarding their old stock. Significantly, today a grand program has been organized for the GST in Central Hall of Parliament.
According to the information, Big Bazaar Stauer will be open from 12 am to 2 pm on June 30, according to information given by GST . Meanwhile, all the products will be sold on GST rates, but people will be offered a discount of upto 22 percent.
Where else is the discount:
Let me tell you that these companies have only today’s time to clear their old stocks. In order to take advantage of the remaining time, from Big Bazaar to E-commerce Amazon, Flipkart companies are offering heavy discounts up to 60 percent. Amazon Consumer is offering discounts of 40 to 50% of the customer on electronic and home appliances.
Why retailers are giving discounts:
It is being said that retailers are offering discounts so that they can withdraw their old inventory. All retailers are trying to extract as many stocks as they can before July 1, because on the closing stock of 30th June, the retailer will get input credit of 60% on behalf of the government. That is, they may have to suffer loss on old stock in GST.