GST has been very successful for our group, said Adi Godrej, chairman, Godrej Group.
He further said that it has been well managed and the expected effects of GST have come through.
“In many cases even after introduction of GST in July rates have been brought down which has further helped and despite the lower rates collections are increasing. So GST is a great success and we think economically for our group also it is doing very well,” he added.
According to him, income levels of India are different so a complex tax system is expected.
Talking about rejig in 28 percent rate, Godrej said, “Unless in goods or very high luxury goods, I think things should move out of 28 percent rate. 28 percent is too high a tax for a consumer to pay.”
FY19 will see a higher GDP growth rate than FY18 and we are bullish on growth this year, he said.