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00:00Well, before we get down to a whole new day of a whole new GSC regime, we've decided to stop by to have some good South Indian breakfast at Geetam, a rather well-known establishment here on Chennai's central business district of Mount Road.
00:18Now, here's where things get interesting. Even before I dig into my Masal Dosa, Idli, Basundi, Ras Malai and Bada Milk, the fact is that these same items were charged with differential GST rates that you can see right here as recently as yesterday.
00:35A 12% for some items, 5% for some other items like, you know, food and sweets as the case may be. But today's bill has all of this at one single GST rate of just 5%. Let's get a quick take from some of our guests joining us here today.
00:54With me is Geetam's founder, Mr. Murali Bhatt. The whole rationalization of the GST, Mr. Murali, designed to boost consumption in a sense, do you think that that's all set to happen going forward?
01:07Absolutely. Absolutely. Because a lot of the input also, this oil and oil has come down to 12 to 5% and the savories and sweets and all has come to 5%. So, immediately we have given some of the benefits and today again we'll work it out.
01:24I hope the gas also, the commercial gas also, it's going to reduce from 18 to 5%. I hope. If everything is good, I think it's a definitely, it's excellent things for the bottleiers as well as the consumers.
01:40Right.
01:40So, definitely the pocket will be eased out and definitely the spend also will be more.
01:45Absolutely. But even as we dig into this delectable South Indian breakfast space, I need to ask Akshya here, head of marketing at Geetam.
01:52Akshya, earlier your cashiers, your accountants would have scratched their heads, different GST rates for different products like Basundi, Rasmalai and different rates for let's say Abada Milk and, you know, our delectable South Indian breakfast.
02:05That's set to change right now with one single rate. How much does it make doing business easier for you?
02:11For us, yes, definitely. I think like, you know, it's going to be easier. But I think for customers, it's going to be more easier because like they don't have to break their heads on why the billing is different.
02:20Like, you know, the GST also, like they don't have to think too much because everything is going to be at that 5%.
02:25So, more than us, I think customers are also going to be benefited with this. For us, definitely, like I think it's going to be an added benefit as well.
02:32But most of all of this, we are also passing it to our customers directly, like, you know, for savouries, flavoured milk, all of that is changing to 5% from today.
02:42I think we're directly giving the benefits to our customer so they can enjoy it more.
02:45Absolutely. So, good for customers, good for businesses. That's the big outcome here.
02:50And even as we get started to dig into our breakfast starting the day, let's hope that a simpler GST rate would be the signs of a time where business is also to be eased out and we have an overall boost to the economy.
03:04So, that's it from us. We hope you have a great breakfast too. I'm about to dig right in.
03:08All right. Thank you for that. While you enjoy that hearty wheel.
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