After Flipkart and Amazon launched GST-driven sale on fashion and furniture last week, Paytm Mall is also launching its own clearance sale this week. The three-day sale, starting tomorrow, will see merchants on the e-commerce site offering heavy discounts and cashbacks on electronics and large appliances to its users.
The pre-GST sale flags off as traders and distributors across India are clearing their existing stock before new tax rates become effective from next month. The sale, which will reportedly host over 6000 retailers across more than 500 brands, is expected to witness steep discounts on a range of products including televisions, laptops, mobile phones and ACs, among other items.
As of now, a tax of around 13.5% is levied on smartphones, which will come down to 12% with the rollout of GST. This will make smartphones marginally cheaper than they are right now after July. However, electronic appliances like washing machines and refrigerators, which are categorized under the 28% GST slab, will get costlier, along with items like televisions and computers, which will be taxed at 18%.
Paytm Mall will offer a cashback of up to Rs 20,000 to its customers buying these products on its platform during the sale period. While, products like bluetooth speakers, footwear and accessories will be sold after a cut of up to 50% at 25% cashbacks.