Buying goods or availing services, for every transaction made accompanies various taxes and additional charges in India. In a bid to get rid of these various government and state taxes, the Government of India will now scrap out all other taxes and will levy only single tax called GST from July 1.
Raining discounts on all major brands across sectors before GST
The Goods and Services Tax (GST) will be implemented from July 1 across all sectors in India. Keeping in mind the new GST regime from next month, the retailers want to dispose of the old stock by the end of this month. The reason behind why retailers across sectors are willing to offload old stocks is that they want to avoid complex legal formalities for carrying forward the items with old tax rates and revising it under the new GST bill.
Commodities like AC, car, mobile phones, refrigerators, clothing, washing machine etc are on pre- GST sale. That is the reason why big brands like Paytm, Bajaj Autos, Levis, Shopclues and many more are giving heavy discounts to their customers on all the items. They have even announced sale up to 50 – 70% for stock clearance.
Commodities and services that will grow cheaper after implementing GST
Here is the list of goods and services that will get cheaper once GST replaces all other government and state taxes from July 1.
- Air conditions
- Sedan cars (entry-level)
- Premium cars including luxury and SUVs
- Mobile Phones (Smartphones)
- Television (LEDs)
- Washing machines
- DSLR (camera)
- Movie Tickets
Prices of these essentials will become expensive after GST is implemented
- Aerated drinks
- Mobile phone bills
- Dining in restaurant
- Renewal of life insurance
- Banking and investment
- WiFi and DTH services
- Online ticket booking
- Commuting via railway and metro
- Pharmacy and healthcare
- Residential rent
- School fees and courier services
Discounted rates of premium car on pre- GST sale
From July 1 when GST will be full- fledgedly implemented, the on road rates for small cars are likely to dip. To clear their June inventory, small car manufacturers including Maruti Suzuki, Hyundai and Ford are offering discounts of Rs 25,000- to Rs 75,000.
BMW has also slashed down the rates of its cars across all range to 12%. A dip of Rs 1.5 lakh to Rs 10 lakh can be witnessed in the price of Audi cars as their pre- GST sale. Mercedes-Benz, the Made in India range can also be bought at 4% cheaper than before.