Beverage Industry seeks GST cuts on bottled water, juices, and sodas ahead of key meeting
In yet another push for GST rationalisation from the industry, the Indian Beverage Association (IBA) has approached North Block, urging a re-examination of high tax rates.
The Rs.60,000 crore industry, representing Indian companies in the non-alcoholic beverage sector such as PepsiCo, Bisleri, Coca-Cola, Campa (Reliance Industries Ltd), Dabur, Tata Group, and others, has separately written to the government, the Finance Ministry, the GST Council, and the GST Council-nominated Group of Ministers (GoM) on rate rationalisation.
In an exclusive interview with CNBC-TV18, CK Jaipuria, Chairman of the Indian Beverage Association, stated that an urgent rationalisation of the current GST rates is necessary, describing high taxes as “retrograde.”
The industry, valued at approximately Rs.60,000 crore and growing at around 14% year-on-year, believes high taxes burden it and has suggested that the government reduce GST across various sector sub-segments.
