New Delhi: Online retailers like Paytm are offering special discounts to consumers to ensure that their sellers' stock is cleared before the GST tax regime sets in from next month.
Paytm has a 'Pre-GST Sale' going on, hosting over 6,000 retailers across more than 500 brands. Consumers can get discounts and cashback on a range of product categories like TV, laptops, mobile phones, ACs, refrigerators, DSLRs and footwear, among other items.
"This sale has come at an opportune time for offline retailers who are looking to offload their entire inventory before the new tax rates become effective," Paytm said in an emailed response.
Even online drug marketplace, 1mg has joined the bandwagon. "Due to GST, there may be shortage of medicines in July. Stock medicines@20 per cent off on 1mg.com to avoid issues," read a communication sent to customers.
The landmark Goods and Services Tax (GST) reform kicks in from July 1. All e-commerce companies have been engaging with the merchants on their platforms to ensure a smooth transition to the new taxation system.
ShopClues, which has about five lakh merchants on its platform, said it is organising seller summits in different cities, sending regular updates to merchants through mails and updating GST related information on its seller portal. "Soon, we will organise weekly webinars where merchants can get their doubts clarified from our internal GST experts," it added.