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GST takes sparkle off festival of lights
Diwali spirit went missing in the market. Generally, for Diwali all the family members purchase new clothes and celebrate the festival. This year, there is no Diwali spirit in the market. All the readymade garments shops, big cloth stores wore a deserted look in the city. Some shops offering up to 40 per cent discount on the selected dresses, in spite of it there is no business like last year.
Vijayawada: Diwali spirit went missing in the market. Generally, for Diwali all the family members purchase new clothes and celebrate the festival. This year, there is no Diwali spirit in the market. All the readymade garments shops, big cloth stores wore a deserted look in the city. Some shops offering up to 40 per cent discount on the selected dresses, in spite of it there is no business like last year.
The traders are saying that after demonetisation and imposition of Goods and Service Tax, business is gradually falling. Generally, sales will pick up for Dasara, Diwali festivals. “At present, there is no such demand. We are unable to sell the new stocks. After imposing GST, we have to pay tax for all the sales. We are passing this burden on to the consumers, said traders.
P Ravi Krishna, a consumer residing in SN Puram in Vijayawada, said generally he will purchase new clothes for all the family members for Diwali. Four members of family requires Rs 7,000 to Rs 8,000. Due to demonetisation and imposition of GST, readymade garments price has gone up. I have to spend at least Rs 10,000 for purchasing new clothes.
I have spent another Rs 1000 on crackers. Another Rs 1,000 for sweets and other things. I cannot spend Rs 10,000 for purchasing new clothes. I have cut down my budget for Diwali. Price of essential commodities, house rents have gone up in Vijayawada."
P Srinivasa Rao, a trader in the Besant Road said, “There is no business for readymade garments. Generally, demand for Diwali will start before one week before the festival. This year, we have no business as earlier. After imposition of GST, readymade garments price have gone up, which led to fall of demand. Customers are not able to bear 28 per cent GST.
Generally, we engage muta workers for loading and unloading the stocks. At present muta workers have no work in the Besant Road. I am doing this business for the past 20 years, I cannot do any other business. I am doing this business with losses, I have no alternative. “
P Krishna Mohan, a sales manager , in an electronic goods showroom said, “ Generally, ACs, TVs, refrigerators and washing machines sales will increase for Diwali festival. Showroom will fill with the customers. This year, electronic goods sales are less compared to last year.
Though finance companies are offering finance at zero interest, customers are not coming forward to purchase TVs, ACs and washing machines. Hence, Diwali sales are disappointing.”
By VL Shyam Sundar
