Discounts are pouring! If you are planning to buy Smartphone, Car, Gold, Home appliances, Apparels and much more, now is the time. With Good and Service Tax (GST) rolling from July 1st, we hope it should be favorable to Indian economy, but for now enjoy the raining discounts. All thanks to new tax reform Goods and Services Tax, which will start from July 1st, companies are giving away great offers till 30th June. Mostly Monsoon Sale starts by end of June and electronic sale during Diwali, but with GST rolling, retailers (both online and offline) are clearing their old stock to clear their inventory. Most of the Luxury items will cost you 4% to 5% higher, which is not much drastic, but for middle class it’s the time use this bonanza of Pre GST discounts as an added way to save their bank balance.
Here’s a small list of products that are beneficial to buy before GST rolls:
- Home Appliances: Tax on Electronics like AC and Television will go from 23% to 28%, under GST. To clear their old inventories retailers are offering 20% to 40% discount on televisions, air conditioners, refrigerators, washing machine and other home appliances. Companies like LG, Samsung, Videocon, Micromax, and Hitachi are trying to clear their old stock. They are giving away free gifts, extended warranty, attractive EMI options, bank discount to boost their sale before 1st of July. If you are a big fan of LED and Flat Screen TVs then it’s the right time to buy.
- Smartphone: GST levied by government on Smartphone is 12%, which will make it costlier by 4% to 5%. Online retailers like Amazon, Flipkart, Paytm, Snapdeal are giving away Smartphone at much discounted rate. You can get some great offers on iPhones at Amazon, Flipkart and Paytm.
- Cars: This is the sector where discounts and offers are raining. If you plan to buy a Luxury car, a sedan, SUV or a diesel hatchback, this is the time. Car companies are pouring pre GST discount to clear their stock. To draw customers Hyundai is offering discount from Rs. 25,000 (low end model) to Rs. 2, 50,000( luxury Cars). Mahindra is giving discount from Rs. 27,000 to Rs. 90,000 on Scorpio, XUV500, TUV300 and KUV100. You can get packaging deals of low interest rates, reduced EMI rates, and free insurance from various car companies like Honda, Datsun, Volkswagen, and Ford. The best you will get from the high end Luxury car brands. Mercedes-Benz India has slashed around Rs. 7.5 Lakhs on its 9 Made in India models. Audi is giving discount up to 10 Lakhs till 30th BMW is attracting customers with first year free insurance, free maintenance for 3 years, great buyback rates after 4 years and what not.
- Apparels: We, common man eagerly wait for the End of Season Sale, but this time we are getting them early. This time on the name of Pre GST sale (we are loving it). GST on apparels more than Rs. 1000 will have tax of 12% five percent more than exiting 7%. Major apparel and footwear brands Puma, Allen Solly, Levi’s, Flying Machine, Pepe Jeans, Black Berry and many more are giving extra discount from their usual trends (basically early and extra) . Multi-fashion stores like Shoppers Stop, Lifestyle, Pantaloons, and Westside didn’t wait for the month end, instead started with weekend sales. Online retailers like Flipkart, Amazon, Jabong, Myntra, and etc. have ongoing sale from 50% to 80%. I am eagerly waiting for up to 80% off on fashion products at Amazon starting on 23rd June 2017
- Gold: Once the GST goes live, though there will be marginal increase in tax (from 2% to 3%), this rise of 1% might be passed on to the customers.