Kerala: Goods sale peaked in GST run-up
The jewellery shops in Kochi witnessed brisk sales during the last few weeks.
KOCHI: The jewellery shops in Kochi witnessed brisk sales during the last few weeks ahead of the implementation of the new tax regime. Unlike the previous years when June and July are the offseason months for jewellers, most of the shops registered very high sales. Compared to a normal day, the sales increased by over 100 per cent due to the apprehensions over the increase in gold rates.
"Most of the jewellers in the city have registered significant increase in sales in the last couple of weeks. Sales picked up by 50 to 75 per cent in the last 10 days and crossed 100 per cent in the last three days," said Sinoy Paulose, showroom manager, Chungath Jewellery, Kochi.
"Most customers were shopping for upcoming weddings planned for August and September, the busy marriage season in Kerala. The reports that gold rates will go up after the implementation of the new tax structure created panic among the potential buyers who made the purchase before June 30," he added.
Meanwhile, the gold sale is likely to reach an all- time low during the next few months till the concerns over price escalation and fluctuation are resolved, it is said.