• Jignesh B Togadiya
• Dr. Vigna Oza

Despite of the economic slowdown, India's Fast Moving Consumer Goods (FMCG) has grown consistently during the past three – four years reaching to $25 billion at retail sales in 2008. Implementation of proposed GST and opening of Foreign Direct Investment (F.D.I.) are expected to fuel the growth and raise industry's size to $95 Billion by 2018 The present study focuses on “A Study of Impact of Goods & Services Tax (GST) on Shares return of Indian FMCG Companies”. This study aims to find the reaction of Indian FMCG CompaniesShare return with respect to the announcement of GST rates and also tries to test efficiency of the stock market. The performance of stock market and its behavior serves as an indicator of the reactions of the economy of the nation. The Goods and Services Tax is a major tax reform in India which is most likely to boost the economic growth of the country. This expectation of the investors is assumed to be transformed to stock price returns that are either negative or positive. So for GST impact is concerned, here Daily, Monthly and Yearly, pre and post GST implementation share return is taken and different statistical tools applied to find impact of GST on these returns.

“GST Impact on Share Return of Selected Indian FMCG Companies”

"GST Impact on Share Return of Selected Indian FMCG Companies", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 5, page no.40-46, May-2019, Available :http://www.jetir.org/papers/JETIR1905108.pdf

"GST Impact on Share Return of Selected Indian FMCG Companies", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 5, page no. pp40-46, May-2019, Available at : http://www.jetir.org/papers/JETIR1905108.pdf