Kalpesh Soni, General Manager Marketing, KYB-Conmat gives his views on GST, “KYB-Conmat aims to be a major contributor to the country’s growth story. We have been growing year over year and had a great 2017, and we expect 2018 to be even better. As more and more projects are being announced – be it for roadways, ports, airports, real estate, affordable housing, irrigation, etc. we are aggressively working with our customers to be part of it all. Concrete is the future, and there is no doubt about that, and we are all geared up to do our bit to make India an infrastructure-rich nation. KYB-Conmat has seen consistent growth since 2015 due to the widespread acceptability of our products in the market. We recently celebrated the rollout of our 1000th Transit Mixer from our Vadodara facility. We are looking to expand our market and reach, both domestically and internationally. We also wish to explore unchartered territories in the international market. We have some new products currently in the development stage, which we are planning to launch soon. At the same time, it will also be our endeavor to upgrade and keep our existing product offerings up-to-date with the latest technology. Our aim is to the one-stop shop for all Concrete Equipment needs of a customer and we are working on front foot to achieve that.
GST is bound to represent a win-win situation for both the construction equipment sellers as well as the buyers. GST driven by the principle of one nation, one tax is expected to unify the country economically. One may think that the tax burden has increased with the GST but it has essentially brought several positive changes and consequences for the sector. For instance, until GST was introduced, all heavy equipment used to have a different tax structure in different states. While some states used to levy entry taxes, octroi etc., some demanded entry forms and some didn’t. This always led to huge confusion in equipment selling and moving it from state to the other. GST will put an end to this hurdle along with all its revised GST laws in coming days.
Also, we have always followed best corporate governance & never indulged in cash transaction, due to which sometimes we were priced out because of higher tax compliance. Due to Demonetization, we have been able to increase the business volume.”