Progressive Grocer spoke to three prominent members of the industry to get a sense of the sector’s comfort level in dealing with GST. While each one of them welcomed its implementation and were appreciative of GST’s stated aim to bring about transparency and accountability in transactions, they also expressed an overwhelming concern for more simplicity in the rules and greater flexibility in the compliance.
More than three months into GST, what do you feel has been its impact?
Amit Lohani, MD Max Foods and Convenor, Forum of Indian Food Importers: GST has been a tremendous idea, which if executed with less confusion would have led to better trade conditions. But unfortunately that is not happening, at least for small trade stakeholders and SMEs. The tax slabs are on the higher side primarily for food and beverage items. While on the one hand, we are fighting to tame food price inflation, on the other side we have high tax on food items that is creating a contradictory situation. Business has visibly faced the brunt of such inherent anomalies in GST. What we get to hear of the GST impact is primarily from the perspective of large corporate or multinationals. For SMEs and companies like ours, it is difficult to abide by all GST compliance due to several reasons – from high tax slabs to ambiguity in the rules to lack of qualified man-power, and several others.
Sunil Jindal, Managing Director, SRS Limited: The Indian government has taken some steps recently to usher in greater clarity in GST, which will make it easier for businesses to negotiate the system. The introduction of GST was expected to encourage transparency in business dealings and transactions. Businesses are moving in that direction and things are bound to improve on this front. Still, it is a bit early to comment on how effective GST will be in turning the business landscape towards better transparency and a more efficient transaction system. But we do expect it to have a positive effect.
Rishabh Asrani, Director, Sri Roda Foods: GST has resulted in an increase in tax percentage on our products. However, the removal of CVD from the duty structure has been beneficial for us and reduced the costs of our products.
This story is from the November 2017 edition of Progressive Grocer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 2017 edition of Progressive Grocer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Gurgaon's First and Most Successful Independent F&G Retailer
SINCE LAUNCHING ITS FIRST OUTLET IN THE YEAR 2000 IN DLF GURGAON AT A TIME WHEN MODERN TRADE FOOD AND GROCERY STORES WERE NOWHERE ON THE RETAIL HORIZONS OF THE MILLENNIUM CITY, NEEDS SUPERMARKET HAS GROWN TO ADD 26 LARGE, MEDIUM AND SMALL STORES TO ITS KITTY, CLOCKING AN ADMIRABLE RUN RATE ON VARIOUS PARAMETERS OF RETAILING EXCELLENCE ALONG THE WAY. PROGRESSIVE GROCER SPOKE TO NEEDS SUPERMARKET’S MD AJAY DHAR, AND CEO, ARUN KHATTAR, ABOUT HOW THE GROCERY CHAIN HAS BEEN ABLE TO HOLD ITS OWN AND CLOCK STEADY GROWTH IN A HYPER-COMPETITIVE MARKET DOTTED WITH BIG-BOX NATIONAL RETAILERS AND THE SECRET SAUCE BEHIND ITS SUCCESS RECIPE.
Paras Spices is innovating with unique products to meet new trends in the spices category
CATEGORY WATCH FOOD STAPLES
Brands and retailers collaborate to promote the growth of non-alcoholic beverages
SUPER-HERB INFUSED BEVERAGES THAT BRING THE POWER-PACKED GOODNESS OF SUPERFRUITS ARE TAKING THE MARKET BY STORM. THESE NONALCOHOLIC BEVERAGES CLAIM TO CONTAIN ZERO CALORIES, ZERO SUGAR, ZERO ARTIFICIAL SWEETENERS, AND ZERO PRESERVATIVES AND ARE DESIGNED FOR TODAY’S MILLENNIAL-GEN WHO ARE SEEKING A HEALTHY DRINK WITH A TASTY TWIST.
Just Outside the Box
THE HUMBLE PARKING LOT HAS BECOME A DIFFERENT KIND OF RETAIL DESTINATION AND HUB OF COMMERCE.
Increased Focus on Health, Wellness, and Immunity-boosting Products
SALES OF PACKAGED FOODS HAVE SURGED SINCE THE ONSET OF THE PANDEMIC, AS HOME-BOUND CONSUMERS STOCKPILE FAMILIAR PRODUCTS THAT WON’T GO STALE QUICKLY. BREAKFAST CEREALS, INSTANT NOODLES, RICE AND COOKING FATS ARE AMONG THE PRODUCTS THAT HAVE SEEN THE STRONGEST GROWTH IN RECENT MONTHS.
Consumer focus on hygiene & nutrition boosts packaged paneer sales
THE DEMAND FOR CATEGORIES SUCH AS CHEESE AND PANEER HAS WITNESSED AN ALL-TIME NEW HIGH DURING THIS PANDEMIC THANKS TO THE VERSATILE NATURE OF THESE PRODUCTS. NOT ONLY IS PANEER DELICIOUS TO TASTE BUT DURING THE HEIGHT OF THE LOCKDOWN, THE INTERNET WAS TRENDING WITH UNIQUE, FUN AND EASY-TO-MAKE PANEER RECIPES.
How Hormel Became a Snack Company
ACQUISITIONS, ADJACENCIES AND INNOVATION DEFINE THE GLOBAL BRANDED FOOD COMPANY’S GROWTH STRATEGY
The New Normal for Snacks
THE POST-PANDEMIC CONSUMER WILL DEMAND BETTER-FOR-YOU MEAL SOLUTIONS MORE THAN EVER BEFORE.
The rise of superfoods and ways to mainstream them on retail shelves
WHAT ARE SUPERFOODS AND THEIR BENEFITS AND WHY THESE PRODUCTS ARE WITNESSING A HUGE SURGE IN DEMAND? WHAT ARE THE CHALLENGES OF INFUSING THESE SUPERFOODS INTO OUR TRADITIONAL FOOD PRODUCTS, AND HOW CAN THEIR VISIBILITY AND AWARENESS BE RAMPED UP IN ON-GROUND SHELVES OF SUPERMARKETS AND RETAIL COUNTERS?
What is driving consumers to become more conscious of what they eat?
WITH CONSUMERS BECOMING MORE HEALTH-CONSCIOUS, RETAILERS HAVE ALSO STARTED MAKING SHIFTS IN THEIR OWN MERCHANDISING AND MARKETING TO KEEP UP WITH THE TREND.
