<p><strong>By Mahhaguru Gaurav Mittal</strong></p>.<p>Products which have a quick turnover and relatively low cost are<br />known as Fast Moving Consumer Goods (FMCG); Examples are toiletries,<br />soap, cosmetics, tooth cleaning products, shaving products and<br />detergents.<br /><br />The expectation of the FMCG industry from Budget 2019-2020<br /><br />1.FMCG industry has now become a low margin industry business and one<br />in FMCG business can sustain only on high volumes. GST on branded<br />products start from 5% to 12, 18 and 28% were on unbranded items its<br />zero percent; somewhere there is a need to bring the whole FMCG<br />industry under just one lowerest most GST range else it is giving a boost<br />to unbranded items.<br /><br />2. A major cost component for deciding the product landing cost is<br />dependent on Transportation cost. Freights play a significant role in<br />the cost of the product and hence govt to look into fuel cost, toll taxes<br />, etc. and bring the transportation cost significantly down.<br /><br />3. Unnecessary monthly returns are a headache. Monthly GST return is<br />really headache (2 returns are on month basis GSTR-1 & GSTR-3B right<br />now). some simple way and just quarter/ annual returns should be<br />sufficient otherwise they are giving a chance for corruption.<br /><br />4. If GST remains the same on each category of the product then there is no<br />need for each category license; single HSN code and license should<br />suffice. it's a headache and giving a chance for corruption.<br /><br />5. Companies expect the government to reduce Corporate tax 20%.<br /><br />6. Payment of TDS should be the quarterly basis for small scale or MSME<br />Regd company. <br /><br />7. Assessment or order should be complete within 1 year</p>.<p><em>Mahhaguru Gaurav Mittal is M.D of Mahhaguru Navgrah Private Limited</em></p>
<p><strong>By Mahhaguru Gaurav Mittal</strong></p>.<p>Products which have a quick turnover and relatively low cost are<br />known as Fast Moving Consumer Goods (FMCG); Examples are toiletries,<br />soap, cosmetics, tooth cleaning products, shaving products and<br />detergents.<br /><br />The expectation of the FMCG industry from Budget 2019-2020<br /><br />1.FMCG industry has now become a low margin industry business and one<br />in FMCG business can sustain only on high volumes. GST on branded<br />products start from 5% to 12, 18 and 28% were on unbranded items its<br />zero percent; somewhere there is a need to bring the whole FMCG<br />industry under just one lowerest most GST range else it is giving a boost<br />to unbranded items.<br /><br />2. A major cost component for deciding the product landing cost is<br />dependent on Transportation cost. Freights play a significant role in<br />the cost of the product and hence govt to look into fuel cost, toll taxes<br />, etc. and bring the transportation cost significantly down.<br /><br />3. Unnecessary monthly returns are a headache. Monthly GST return is<br />really headache (2 returns are on month basis GSTR-1 & GSTR-3B right<br />now). some simple way and just quarter/ annual returns should be<br />sufficient otherwise they are giving a chance for corruption.<br /><br />4. If GST remains the same on each category of the product then there is no<br />need for each category license; single HSN code and license should<br />suffice. it's a headache and giving a chance for corruption.<br /><br />5. Companies expect the government to reduce Corporate tax 20%.<br /><br />6. Payment of TDS should be the quarterly basis for small scale or MSME<br />Regd company. <br /><br />7. Assessment or order should be complete within 1 year</p>.<p><em>Mahhaguru Gaurav Mittal is M.D of Mahhaguru Navgrah Private Limited</em></p>