Electronic stores are luring customers by offering steep discounts just hours before higher rates under the Goods and Services Tax regime kick in.
Customers made a beeline for electronic items, waiting in queues for hours to take advantage of the discounts and advancing their purchases in order to avoid the higher tax rate of 28 percent applicable on many consumer durables.
Some customers at a Vijay Sales store in Prabhadevi, Mumbai told BloombergQuint that they have waited for up to four hours to buy products, lured by discounts of up to 50 percent.
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