New Delhi: Despite the recent overhaul in Goods and Services Tax (GST) rates, a majority of Indian consumers say the benefits have not trickled down to them, according to a nationwide survey by Local Circles.
The survey, which covered 27,000 consumers across 332 districts and gathered over 78,000 responses, revealed that less than 30% of buyers felt they benefitted from reduced prices in the first week of implementation.
Key Findings
Packaged food items: Only 1 in 10 consumers reported receiving full benefits of the GST rate cut, while 2 in 10 said they saw partial benefits.
Medicines: Just 10% confirmed full benefits; another 20% noticed partial reductions.
Electronics & appliances: 30% consumers reported full benefits, while another 30% saw partial gains.
Automobiles: The sector performed best, with 7 in 10 buyers confirming full benefits and 2 in 10 citing partial benefits.
The survey noted that many retailers continue to sell older stock with pre-GST printed prices. Some stores have displayed notices assuring buyers that revised rates will be adjusted at the counter.
GST Overhaul: Survey Finds Most Consumers Yet To See Price Benefits
