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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 t
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FAQ :
The meeting aims to discuss GST reforms for agricultural machinery and ensure that farmers receive the full benefit of the recent GST rate reduction.
Representatives from 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 are attending.
The previous GST rate on agricultural machinery and equipment was between 12% and 18%.
The new GST rate on agricultural machinery and equipment has been reduced to 5%.
The GST rate cut is expected to 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 the lower taxation from the GST cut.
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