“Kerala not ideal for running business”, says Joy Alukkas. It took so long for him to understand. With hartals,donations, party and bureaucracy threats, labour problems and what not.
It was just a day before that I told my Mom how stupid the tax structure was. I wish I could meet the Finance Minister Mr. Thomas Issac. I have 2 years and 10 months of data that can prove running a coconut oil mill with the current taxation is impossible. Then how does it run, you might ask, its through tax evasion. If there’s one person who’s not eveding tax in the local sale only, coconut oil business, I might be surprised. The sales tax is one of the most stupid tax you can have that too 4% for coconut oil. The price of something that varied from Rs.80 per kg to the current Rs53 per kg, within the span of just 2 years and 10 months.
Actually I feel the tax rate should be something like 0.1%, for locally manufactured/ processed stuff to encourage local manufacturing. This tax should be collected in full force, without exceptions and exemptions, irrespective of the size of the firm.