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Nara Brahmani all praise for GST
By: Tupaki Desk | 1 July 2017 5:46 PM GMT
Heritage Executive Director Nara Brahmani attended GST launch at Central Board of Customs Office in Hyderabad Today.
Have a look at Brahmani's take on GST: 'It's a very positive movie. Globally, Over 160 countries have been under GST regime. We have witnessed the positive effects of GST in France and other European Countries…most recently Malaysia. Definitely, It's very progressive for India. Not only Companies but Customers & Governments will get benefitted from GST. Single Tax nationwide guarantees transparency. Companies will get benefitted due to ease in movement of goods & services from one state to the other. Already, 70 lakh traders out of 80 lakh has already come under GST. Additionally, 1.5 lakh traders applications will be processed soon'.
How GST gonna affect Heritage?: 'Especially, There will great improvement in our Dairy Business. Costs will reduce and the benefits will directly go to the consumers. For example, 2.5% percent tax reduction on Ghee. There are no taxes on Milk, Curd, Butter Milk & Lassi. Company itself is bearing the cost on products attracting more tax than what it was until now. For example, Ice Creams and Frozen Desserts. So, It's a very welcoming reform in India'.
Brahmani lauded Centre for offering tax exemption to essential products such as dairy & food grains. '81% of Goods & Services are placed in less than 18% tax slab. Any new reform, It will take some time to settle down. I believe people could witness the real benefits and impact within 3-6 months. People will slowly get used to this fully digitized system,' she added.
Have a look at Brahmani's take on GST: 'It's a very positive movie. Globally, Over 160 countries have been under GST regime. We have witnessed the positive effects of GST in France and other European Countries…most recently Malaysia. Definitely, It's very progressive for India. Not only Companies but Customers & Governments will get benefitted from GST. Single Tax nationwide guarantees transparency. Companies will get benefitted due to ease in movement of goods & services from one state to the other. Already, 70 lakh traders out of 80 lakh has already come under GST. Additionally, 1.5 lakh traders applications will be processed soon'.
How GST gonna affect Heritage?: 'Especially, There will great improvement in our Dairy Business. Costs will reduce and the benefits will directly go to the consumers. For example, 2.5% percent tax reduction on Ghee. There are no taxes on Milk, Curd, Butter Milk & Lassi. Company itself is bearing the cost on products attracting more tax than what it was until now. For example, Ice Creams and Frozen Desserts. So, It's a very welcoming reform in India'.
Brahmani lauded Centre for offering tax exemption to essential products such as dairy & food grains. '81% of Goods & Services are placed in less than 18% tax slab. Any new reform, It will take some time to settle down. I believe people could witness the real benefits and impact within 3-6 months. People will slowly get used to this fully digitized system,' she added.
