GST Regime – FMCG Sector

CHENNAI:
Welcoming the soon to be ushered in GST regime, Pradeep Cholayil, Chairman and Managing Director, Cholayil P Ltd reacted thus – “The core composition of most of our product range is ayurvedic in nature.
The present rate of VAT (value added tax) applicable for ayurvedic products is at 4%. We welcome the GST regime, and think taking into consideration the nature of the Ayush sector, a GST rate of 4% would be very welcome. This will help the sector grow in a big way, which is also the intent of the Government as well. Also keeping in mind the need for a special thrust on some sectors, a differential GST rate would be more appropriate”