Quick Summary
The impact of recent GST rationalisation on cooperatives, particularly those operating in the dairy, food processing, agriculture and rural enterprises sectors throughout the country is as follows: Dairy Sector i. The GST on Milk Paneer has been made nil and the GST on Butter, Ghee, Cheese, Milk
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FAQ :
The GST on milk and paneer has been made 'nil'.
GST on butter, ghee, cheese, and milk cans has been reduced from 12% to 5%.
GST on many food items, including jams, jellies, fruit juices, chocolates, ice creams, pastries, cakes, and biscuits, has been reduced to 5%.
GST on fertiliser inputs like ammonia, sulphuric acid, and nitric acid has been reduced from 18% to 5%. GST on many bio-pesticides and micronutrients is now 5%, down from 12%.
The changes are expected to boost demand, increase revenue for cooperatives, lower input costs for farmers, encourage the use of bio-pesticides, and potentially lead to higher prices paid to members by cooperatives.
GST on tractors below 1800 cc capacity has been reduced to 5%. GST on tractor components like tyres, tubes, and hydraulic pumps has also been reduced to 5%.
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