V-Mart Retail, CFO: To pass on full 7% GST hike, discounts on old stocks may be cut
22 December 2021, Mumbai:
Fashion retailer V-Mart Will pass on the full 7 percentage point GST rate hike on apparel which is effective from January 1, 2022, and if the government does not allow the change in the MRP tag of the existing stocks then the company will cut their discounts on them to mitigate the cost impact, said a senior executive.
"The7 percentage point hike is a significant one. We will have to pass on the Increase. For the fresh stocks, we have already indicated the new pricing to our vendors and the manufacturers.
For the old stocks, we have two options; if the government allows us a change in the MRP tag, then we don't have a problem, but if they don't allow then we will reduce discounting,"
Cfo.economictimes (The news article has not been edited by DFU Publications staff)
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