OVERVIEW: How Will GST Impact, Your Fashion, Food & Electronics Segment

From July 1st there will be a new tax regime applicable to all the products on e-Commerce sites like Amazon, Flipkart, Jabong and more. Meanwhile, Good & Service Tax (GST) substantially changes the price tags for each item that are currently on the shelf of online marketplaces. In this circumstance, good news will be, June 2017 is not going to be lesser than carnival for customers as the vendors try to empty their inventory as soon as possible casting incredible Pre-GST discounts. But what will be the price prognostication on Fashion, Food & Electronics products from July 1st? What one should buy before GST rolls out and what they can buy later for maximum benefit is on the table of the most people. Let’s take a sneak peek over such categories.

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To give the good amount of boost to local mobile phone manufacturing, prices of imported mobile phones is predicted to get higher and many electronics apparatuses, such as washing machines, refrigerators, trimmers, weighing machines etc are pigeonholed under 28% GST slab and hence their price may get down a little. Polished interstate trade may make internet shopping less expensive on fashion and also Big Brands will always be available in affordable price. Food, snacks, Eating Outside, online food marketplace may get expensive but it will not go out of reach for a common man. Other than these, there could be a slash in Bike prices from the manufacturers. And on mobile bills, cellular companies may Increase in service tax under GST and Jewelry also gets expensive. Implementation of GST will lead to lower entertainment taxes as well but regional movie tickets will be costlier than before as they didn’t have to any entertainment charges before. There is a bog down in a surplus of taxes in the name of VAT, CST, Excise, Service Tax, TDS which makes more than one tax applicable on any given transaction made by the consumers and leads to complexity in e-way bills while dealing with interstate transactions. By rolling out GST, it will be made sure that single all-inclusive tax rule will be initiated to all states in India on the sale, manufacture, and consumption of goods and services which in turn narrow downs the intricacy. In the same time, Amazon also suspended invite-only Platinum Seller Program and all the e-Commerce sites strategising the new sale plans. Since in place of 12.5% Excise e-Commerce sites have to give 17-18% GST which makes the price hit an upper curve and on the top of that they be taxed on inventory that is still held in warehouses. But by in the means of GST, the tax structure will be more easy and simple and it certainly strengthens the nation’s economy in each aspect.
Offer That Has To Be Availed Before July 1st: Myntra will be celebrating End of Reason Sale from 24th-26th Jun. Brand Day is up, on Jabong with 50% Off on Best Brands. Flipkart offering Back To College Sale until 22nd June, Buy the laptops that start from just Rs. 9,999 Amazon Wardrobe Refresh Sale will be held on 23rd – 25th June and also there are huge discounts are active in Electronics and in daily deals, Don’t miss out the opportunity Grab them now. For more offers and free coupons go to ‘Oneindia Coupons’ and save a load of money on your next purchase.

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