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Raising all types of GST free rakhi market - Sales also increased 20 percent over last year

Raising all types of GST free rakhi market - Sales also increased 20 percent over last year

 Rakshabandhan, the festival of brotherly affection in the country, will be celebrated on August 15, this time the government has kept all types of Rakhis free from GST, so Rakhi is looking bright in the markets. Traditional rakhi makers and dealers have used glass, beads, stones fearlessly this year and sales are also reported to be 20 per cent higher than last year. However, e-commerce and gifting platforms are earning well in the face of increasing online demand for rakhis. They have recorded 40% growth in orders this year. According to Anil Bhai Rakhi Wale, the firm of Sadar Bazaar, the wholesale hub of the Rakhis, last year the Rakhis were removed from the GST festival before the GST festival, which did not provide any special benefit, but this time the manufacturers and traders had a full year. This has a positive impact on sales. Prices have also come down. Till last year, glass beaded raisins were taxed at 18 per cent and zari, nylon and silk at 12 per cent. The rates were fixed according to the raw material or input rather than any special slab of rakhi, which had many anomalies. This year everything is clear and manufacturers have used glass, plastic beads, stones and other studded items indiscriminately. Rakhi manufacturer and dealer Shobhit Agarwal said that wholesale sales were up 20 per cent this year. Demand from online vendors is increasing year after year. He said that e-commerce platforms are offering many types of addon services besides sending ashes, but are charging many times more than the original cost of Rakhi from the ad consumer. 
He said that his profit margin is higher on rakhis. Gifting platform Ferns Aid Petals has launched Rakhi delivery service in more than 100 countries this year. A company spokesperson said that orders have seen a 40 per cent growth over the previous year, with 50 per cent for the US, UK, UAE, Singapore, Canada and Australia. Demand for all types of Rakhis including Lumba, Molly, Silver, Pearl, Rudraksh, Chandan has increased.

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