It’s been 103 days India, took a great turn around, with the single change that was running from past many decades. GST( Goods and Service tax) was the biggest step for India that turned much business high and low.
It just did not confuse business but also common public. Because, usually if there is any change in tax system it would be a benefit to the public by reducing the price, but it is opposite in many scenarios. Little change in daily expenses of a common man can affect his overall budget expenditure. Because all that is happenings just the rise in expenses but not the wages/ salary. Though it may take time still to get settled in the tax changes. However observing, many businesses bloomed slowly with the effect of GST in many sectors. Starting with
“FMCG( Fast Moving Consumer Goods) Smiles”
COLGATE– Who prefers being brighter! Many do.
And Colgate is the biggest beneficiary in FMCG sector. As the tax fell from 28% to 18%, the purchase rate of many of its products has increased too much compared to previous records.
NESTLE– It has been mixed variation in changes of prices in Nestle.Reduction in prices of dairy and infant cereal products and increase in coffee and confectionery categories.But it has not raised its prices much due to competition. Nestle reported due to GST, its net profit increased to 9% which is Rs 263.43 Crore by the second quarter end.
HERITAGE FOODS– Though the President of HF says that GST has not much impact on the company, he still reveals HF made 32% increase in its revenue. Surprising to see the next quarter’s revenue with GST impact.
VOLTAS– As the unorganized companies are erased from the competition, the GST had its effect on Voltas. It was reported that the consolidated net profit of the company raised to 53% which is Rs. 157.62 Crores.
And yes! Forget not, Voltas belongs to TATA group.
INDIGO– The one and only consistent track record holder of profits, reported that its profit has increased to 26% i.e., Rs 5753 Crore compared to last year and 19% when compared with previous quarter.
It’s a great news how Indigo flew far in its growth. And future in UDAN scheme may also rise up to profits again.
SPICEJET– Standing in top 5 competing with Indigo, SpiceJet had its profits increased to 18% i.e., Rs 1869 Crore compared to last year.
Seems GST is giving a long push to transport services that helped Aviation sector.
Business and money are all about facing high and low, and the motive is to stand still heading towards to rule the world.