Amway wants govt to reduce GST rate on food supplements
Global direct selling major Amway today batted for reduction of GST rate on food supplements saying prevention of health issues must also be given similar importance as curatives.
Set to complete 20 years of operations in India next year growing at a CAGR of 20 per cent, the company also said it could have grown much faster in the country but for the lack of legislation for direct selling industry.
Amway, which expects its Indian operations to touch sales of USD 1 billion by 2025-26, will cross the Rs 2,000 crore turnover market next year with over half of its current sales coming from food supplements brand Nutrilite.
"Today GST on pharmaceuticals is 12 per cent. If you strongly believe that prevention is better than cure, why should GST on supplements, which are preventive be more than double that on curative?" Amway Regional President- Europe, India & Africa Samir Behl told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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