GST completed 100 days :FMCG companies see hope in coming quarters

Mumbai OCT 9: Indias largest tax Reform GST has completed 100 days successfully and there were many changes were made in the last GST council meeting to facilitate the smooth transaction of the new tax regime. The Impact of the new tax regime is yet to be known in some sectors but some sectors have said that GST would benefit those sectors in coming quarters.

Fast Moving Consumer Goods (FMCG) sector has witnessed disruption before the implementation of the new tax regime from July 1 and many retailers and wholesalers have destocked their goods which resulted in losses for many companies.

However, FMCG companies said that we are on a recovery path and situation would be improved in next 2 quarters.Dabur India's Chief Financial Officer Lalit Malik told that "The market is getting more stable than ever before. We hope that in the coming days, demand will increase from both rural and urban areas. We hope for the best".

Sunil Kataria, the business head of Stock Godrej Consumers said that " we are reassessing that there was the pressure of d-stocking before the GST was implemented. Stocks were largely emptied in June, which have now started to be filled again. Clearly, there is a recovery and demand is increasing. The wholesale market took longer to adapt to the change. The retail market has improved rapidly".