Now near-bankrupt Snapdeal returns 60 percent goods to sellers, even as Amazon, Flipkart, Paytm offer massive discounts financialexpress.com

With the acquisition of the near-bankrupt Snapdeal by Flipkart yet to fructify, the online retailer is understood to be returning stocks to vendors. Meanwhile, other e-retailers are offering discounts in a bid to clear stocks ahead of the roll out of the GST slated for July 1, barely two weeks away.Two sources in Snapdeal told FE the e-commerce company has returned 60-70% of the goods from fulfilment centres. Only those goods and products expected to find buyers quickly have been retained. “We are only stocking products for which sellers have special offers,” they said. Other marketplaces like Amazon, Flipkart and Paytm are having sales ahead of the GST roll-out in an attempt to liquidating their stocks.