Union Agriculture Minister Shri Shivraj Singh Chouhan to hold meeting on GST Reforms for Agricultural Machinery
Representatives of all organisations related to tractors and farm mechanisation to attend meeting with Shri Chouhan
Measures to ensure full benefits of GST rate reduction reach farmers to be discussed
Union Minister for Agriculture & Farmers' Welfare, and Rural Development, Shri Shivraj Singh Chouhan will chair an important meeting today (Friday) in New Delhi to discuss the GST reforms related to the agriculture sector. The meeting will be attended by the representatives of the Tractor and Mechanization Association (TMA), Agricultural Machinery Manufacturers Association (AMMA), All India Combine Harvester Manufacturers Association (AICMA), Power Tiller Association of India (PTAI), and other related organisations. Convened on the initiative of Union Minister Shri Chouhan, the meeting will focus on the recent decision to reduce GST rates on agricultural machinery and equipment (from 12-18% to 5%), ensuring that the benefits are widely passed on to farmers, and formulating strategies for smooth implementation of these reforms.
The GST rate cut, announced by the Central Government recently, will reduce the prices of tractors and other machinery for farmers by 7-13 percent. Farmers will also gain the dual benefit of subsidy schemes combined with lower taxation, while indigenous agricultural machinery manufacturers will receive a competitive edge under the vision of Atmanirbhar Bharat.
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