FMCG firms start putting infra in place for GST

Seventy per cent of the large consumer goods companies can meet the deadline, say experts

As the goods and services tax (GST) enters the final lap before taking effect, consumer goods companies are working round-the-clock to meet the July 1 deadline. Whispers of a possible extension in the deadline were quashed on Sunday by the Prime Minister, urging states to clear their respective State GST Bills without delay. The Central, Integrated, Union Territory and GST Compensation to States Bills were cleared earlier this month by Parliament. 

“There is a realisation that GST will be a reality soon and that readiness in this regard cannot be postponed,” says Nihal Kothari, executive director, Khaitan & Co. “All