GST 2.0: 75% Consumers Receive Tax Cut Benefits On Vehicles, 65% On Appliances, Says Survey
Following 3 weeks post GST 2.0, 75 per cent consumers reported that they got full or partial benefit on vehicles, while the percentage remained at 65 for appliances, white goods and consumer electronics, according to a survey by Local Circles. Challenges persist in packaged food products and medicines segment where only 54 per cent consumers, who were being surveyed, confirmed receiving full or partial benefits of GST rate reduction.
The survey revealed that large number of consumers are still waiting to see the promised relief in packaged foods and medicines.
LocalCircles, which has been closely tracking consumers’ reaction to the implementation of the new GST rates, found improvement in GST rate implementation on packaged foods and medicines during Week 2, likely because of Government enforcement and products with revised MRPs reached retailers. However, there was still a marked difference between these two categories and categories like whitegoods and automobiles.
The survey received over 79,000 responses from consumers located in 347 districts of India. 69% respondents were men while 31% respondents were women. 44% respondents were from tier 1, 29% from tier 2 and 27% respondents were from tier 3, 4, 5 and rural districts.
