There should be minimum tax on ayurvedic products: Acharya Balkrishna
After the GST Council fixed the tax rates on various products on Thursday, Patanjali Ayurved's chief executive officer Acharya Balkrishna told Zee Business that there should be minimum tax on ayurvedic products.
"...If there is no demand for raw material there won't be any supply, so it's important to keep ayurved at the lower end of the tax rate," Acharya said in an exclusive telephonic interview to Zee Business on Friday.
The GST Council in its two-day fourth meeting held in New Delhi on Thursday had announced a four-tier goods and services (GST) tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merit goods that would also attract an additional cess, PTI reported on Thursday.
Overall, the new tax system will provide relief for old and new businessmen, he added.
Watch the full interview of Patanjali's chief executive officer Acharya Balkrishna here-
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
02:48 PM IST