Veteran industrialist Adi Godrej on Monday cautioned against high tax rates under the GST, as he praised the Narendra Modi Government for being reform-oriented and bringing down corruption and crony capitalism. In an interview to PTI, the Chairman of Godrej Group made a strong pitch for lower rates of taxes. “Now, we are going to finalise the GST rates of taxes. And some people are talking about higher rates that will be very much against the interests of the economy. So, reasonable and low rates will be the best for the economy,” he said.
On his assessment of the performance of the 27-month-old Modi Government, Godrej, ex-President of CII, said the Government has done quite well. “They are clearly free enterprise-oriented, very clearly they are reform-oriented and, at last, the GST Constitutional Amendment Bill passed that is to mind is the single most important reform after1991. So, I think they have done a good job. And they have improved ease of doing business, and we should continue strongly on that path”, he said.