Not just air-conditioners, home appliances across categories are disappearing from the shelves in a buy-buy frenzy that would have you believe Diwali is days away. Since most appliances fall under the 28 per cent tax slab under GST, prices are likely to go up by as much as 5 per cent from July 1. According to retailers, around 20-25 per cent of the inventory level of appliances is more than 12 months old. These are products where discounts are being offered so that the stock is cleared before GST kicks in. Manufacturers are preparing their own IT backend so that they are able to generate invoices that are compliant with GST.

Source: The Telegraph June 27, 2017 21:11 UTC