July has never been a good month for household paint makers and this year is no different.
The monsoon has hampered building activity, bringing down demand. Confusion amid the Goods and Services Tax rollout has added to the slowdown.
A survey by BloombergQuint among 20 paint dealers across the country found that volumes fell by nearly 25-30 percent month-on-month in June, the sharpest drop this year. Some dealers in the north said sales have fallen by as much as 50 percent of the monthly average so far this month.
Prices remain constant after two hikes in May this year.
While paint dealers said almost 90 percent of them are GST-compliant and have secured registration numbers, there is still some confusion over filing returns and billing, forcing them to ‘wait and watch.'
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