Impact of GST on the first moving Consumer Goods Sector In India

Abstract With the advent of Goods and Service tax (GST) in India proposed from July 1st 2017, the biggest and most impactful change in Indian indirect taxation happened. The GST will replace the existing indirect taxes on consumption and will be applied on both goods and services.For goods, it will be levied destination based, whereas for services, it will be levied consumption based.Although it, may prove to be advantageous in the long run, it is possible that it may affect the business and stability. The aim of the project is to understand what Fast moving consumer goods (FMCG) Retailers and Wholesalers think about GST and its effect on the business. Secondary as well as primary research was conducted to find out what retailers think about GST and aspects related to that. Growing awareness, easier access, and changing lifestyles have been the key growth drivers for the sector 56 Retailers and Wholesalers were selected at random from across Delhi and were interviewed using a questionnaire having different type of multiple-choice questions. All responses were collected and analyzed. A study on the hypothesis was conducted so that a clearer picture could be obtained. This Paper deals with Introduction, Benefits of GST on the Indian Economy, Impact of GST on the Indian economy, Major sectors in FMCG, Need for study, Impact of GST on FMCG, Objectives of the study, Importance of the study etc