The FMCG sector has been one of the engines of growth in India and is poised to become the fourth largest sector in the Indian economy. Also, the FMCG industry is one of the most regulated industry and there are various regulations and food safety and product safety standards that are applicable to it. It is expected that FMCG sector would not be much impacted due to the ongoing Covid-19 as demand for FMCG goods is inelastic.
Goods and Services Tax (GST) and various amendments that have been enacted from time to time have had an impact on FMCG industry. In the enclosed white paper, RSM explores at a broad level, the impact that GST has had on the FMCG industry. In this paper, we have also looked at recent and proposed regulations such as e-invoicing and the new return filing system as that may also have impact on the way the FMCG industry operates.