Have not heard anything directly about GST rate reduction, says Bajaj Electricals

In an interview to CNBC-TV18, Shekhar Bajaj, CMD of Bajaj Electricals spoke about the buzz that goods and services tax (GST) on consumer durables likely to come down.

Have not heard anything directly about goods and services tax rate reduction, said Bajaj.

Bajaj thinks GST rate for consumer durable products should be cut to 18 percent from 28 percent.

He further said that reduction in fan GST rate has been passed on to customers.

He expects volumes to grow on back of GST rate cut in fans and cables.

Saw a decline in the first half in consumer products business, he mentioned.

Bajaj further mentioned that realisations have fallen as we took price cuts on account of GST.

Talking about demerger, he said there is no thought about it as of now.