Britannia Embraces 'Many Indias' Strategy to Navigate Inflation and Shifting Consumer Trends Mumbai: Britannia, the leading biscuit maker in India, is reorganizing its operations under a "Many Indias" strategy to address inflation, supply-chain disruptions, and evolving consumer preferences. The company’s managing director, Rakshit Hargave, revealed during an earnings call that the restructuring involves creating startup-style teams with localized decision-making powers. This approach aims to enhance agility, accelerate product launches, and tailor offerings to regional markets. The move is part of a broader effort to adapt to a challenging business environment marked by rising costs, pricing volatility, and shifting demand patterns. The "Many Indias" strategy mirrors Hindustan Unilever’s "Winning in Many Indias" (WiMI) model, which the FMCG giant implemented a decade ago. Under WiMI, Unilever divided its operations into more than a dozen consumer clusters instead of four, enabling better understanding of local markets and more targeted product, pricing, and marketing strategies. Britannia’s restructuring follows a similar logic, with teams organized around regional markets to respond swiftly to local needs. Hargave emphasized that the initiative, which has been "kicked on," is expected to yield tangible results in the coming quarters. The company is also increasing investments in premium products and new food categories to capture growing consumer interest in higher-end offerings. This shift comes amid inflationary pressures and changing purchasing behaviors, as consumers increasingly seek value-for-money options and diversified product choices.#goods_and_services_tax #rakshit_hargave #britannia #hindustan_unilever #many_indias
New Financial Year 2026: What Gets Cheaper And Costlier From April 1, Full List The new financial year (FY 2026-27) begins on April 1, 2026, following the Union Budget 2026 announced by Finance Minister Nirmala Sitharaman on February 1. This budget introduced significant policy changes affecting household expenses and consumer spending. Key adjustments include modifications to import duties, GST slabs, and tax structures, which are expected to influence the prices of various goods and services. The Goods and Services Tax (GST) Council simplified its structure from four slabs to two—5% and 18%—effective from September 22, 2025. These changes are now in effect, shaping the cost landscape for consumers. Items that are likely to become cheaper include 17 essential medicines, with reduced custom duties making treatments for conditions like diabetes and cancer more affordable. Electric vehicles (EVs) benefit from extended tax relief, lowering their cost for buyers. Leather goods and footwear are expected to see price declines due to duty-free import provisions aimed at boosting exports. Components for aircraft and microwave ovens will also become cheaper as customs duties on these items are lowered. Imported personal items, such as certain electronics and household goods, will face reduced tariffs. Locally manufactured smartphones and tablets will become more affordable, offering better upgrade options for consumers. Foreign travel and education expenses are projected to decrease due to reduced Tax Collected at Source (TCS) on overseas education, medical treatments, and international tour packages. Seafood prices may drop as duty-free benefits apply to fish caught beyond territorial waters, benefiting both fishermen and consumers.#union_budget_2026 #goods_and_services_tax #finance_minister_nirmala_sitharaman #customs_duties #gst_council
DRC-03 Payments Must Be Linked via DRC-03A for Appeal Pre-deposit Recognition: GSTN Taxpayers in India face challenges with the Goods and Services Tax (GST) portal’s process for handling pre-deposit requirements when filing appeals. Despite making voluntary payments during investigations, many are still prompted to pay again when submitting appeals to the First Appellate Authority. The issue stems from how the system processes payments made through Form GST DRC-03. According to a recent advisory from GSTN, payments submitted via Form GST DRC-03 are not automatically connected to any demand order in the Electronic Liability Register. This means the system does not recognize these payments when determining the mandatory pre-deposit required for appeals. When a demand order, such as Form GST DRC-07, is issued, a Demand ID is created in the Electronic Liability Register. If taxpayers pay using the “Payment towards Demand” option, the portal adjusts the payment against that Demand ID. However, payments made through Form GST DRC-03 lack this linkage and do not appear as adjusted against the demand in the register. The advisory clarifies that the GST system does not automatically recognize payments made via Form GST DRC-03 against any specific Demand ID. As a result, these amounts are not factored into the pre-deposit calculation for appeals. To address this, GSTN has introduced Form GST DRC-03A, which allows taxpayers to manually link their voluntary DRC-03 payments to the relevant Demand ID. Once linked, the payment is recognized in the liability register, ensuring it is accounted for during the appeal process. This prevents duplicate pre-deposit requests and reduces unnecessary financial burdens on taxpayers.#goods_and_services_tax #gstn #form_gst_drc_03 #form_gst_drc_07 #electronic_liability_register
