Mariwala feels the government should set up a strong IT backbone to implement GST at a state level, and also focus on adequate training for officials for implementation of GST
Marico founder Harsh Mariwala feels ensuring the right rate for the Goods and Service Tax (GST) will be the next important milestone for the government.
In an interview to CNBC-TV18's Latha Venkatesh, he says a higher rate could negate the benefits of GST at a broader level.
Mariwala feels the government should set up a strong IT backbone to implement GST at a state level, and also focus on adequate training for officials for implementation of GST.
He expects some roadblocks to the Bill in the Rajya Sabha.
Mariwala says the government should not give in to all the demands of the states. At present, petroleum products have been kept out of the ambit of GST because of pressure from the states.
He sees FMCG companies benefiting in a big way from lower logistics costs, and also companies in general gaining from a simpler tax structure which will help free up resources.
Interview transcript to follow
Also read: GST Bill passed, but Jaitley needs to offer more lollipos to states
Marico stock price
On December 18, 2014, at 11:09 hrs Marico was quoting at Rs 330.20, up Rs 11.95, or 3.75 percent. The 52-week high of the share was Rs 349.55 and the 52-week low was Rs 200.10.
The company's trailing 12-month (TTM) EPS was at Rs 9.17 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 36.01. The latest book value of the company is Rs 30.60 per share. At current value, the price-to-book value of the company is 10.79.
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