Godrej, Parle, other FMCG companies back 16-18% GST rate, final decision likely to be next month
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The second
"As long as daily consumption and mass products fall under lower slabs, GST will be beneficial and spur growth, and is much needed,” Saugata Gupta, managing director at consumer staples firm Marico, told ET.
Experts say GST rate at 17% or 18% will spur growth and reduce warehousing and logistical requirements.
"Our main concern is the tussle about different rates between central and state governments. We are also unsure on what are the exemptions. Yet, we feel that a 16-18% tax bracket would be positive for our industry,” said Mayank Shah, deputy marketing manager at biscuit maker Parle Products.
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The next GST council meeting is scheduled for first week of November.
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