CEO Krishnamurthy spotlights GST booster to consumption as Flipkart preps for annual flagship sale
Earlier this week, Flipkart had stated that it has simplified compliance by auto-updating GST slabs on products based on HSN codes, ensuring sellers remain aligned with directives while passing benefits to customers through sharper pricing and stronger sales.
Flipkart Group CEO Kalyan Krishnamurthy on Wednesday termed GST reforms as a critical enabler of consumption and inclusion and said the revised slabs would enhance purchasing power, empower sellers and broaden market access, as the top honcho addressed an employee event just days ahead of e-commerce giant's annual flagship sale.
Earlier this week, Flipkart had stated that it has simplified compliance by auto-updating GST slabs on products based on HSN codes, ensuring sellers remain aligned with directives while passing benefits to customers through sharper pricing and stronger sales.
Sources said that Krishnamurthy highlighted the revised GST slabs being a huge boost to consumption in India, during an internal employee event on Wednesday, as the company gears up for The Big Billion Days 2025.
Krishnamurthy also spoke of Flipkart's current growth trajectory, noting it has witnessed "encouraging momentum" over the past few months, with 4-times growth in units as compared to the previous year, driven by value proposition and a 1.3 times expansion in selection.
According to sources, Krishnamurthy also alluded to seller confidence being at an all-time high, with Flipkart recording its highest-ever seller NPS, signalling stronger partnerships and growth.
The GST Council, in its meeting last week, approved a two-tier structure of 5% and 18% for Goods and Services Tax (GST) with a special rate of 40% on tobacco and related products and ultra-luxury items.
The new rates will be effective September 22. Currently, GST is levied in the slabs of 5%, 12%, 18% and 28%.