Prices will get reduced if GST comes down to 18% from 28%: VIP Industries

VIP Industries has been buzzing in trade, up almost 30 percent this month. In an interview with CNBC-TV18, Dilip G Piramal, Chairman of the company spoke about the latest happenings in his company and sector.

If goods and services tax (GST) is 28 percent and it comes down to 18 percent, prices will automatically get reduced and will be passed on to the consumers, he said.

We will benefit from this, he added.

Speaking on canteen store department (CSD), he said. “It is not that the segment has become or anything but CSDs has had a shift in their policy and they want to concentrate on the major day-to-day items like the fast moving consumer goods (FMCG) etc.”

Whatever sales we have lost in CSDs, we have made it up in the ordinary trade market, said Piramal.

For full interview, watch accompanying video...