The GST Bachat Utsav was kicked off on 22nd of September this year with the reduction in GST rates, benefitting citizens across the country. Today, our correspondent brings a report on how the new GST rates in the agriculture sector is helping citizens. A report.
The next generation GST reforms have provided relief to the agriculture sector by lowering taxes on essential machinery and food products, making farming more efficient for lakhs of farmers. Fertiliser-related materials such as ammonia, sulphuric acid, and nitric acid now attract only 5 per cent GST instead of 18 per cent, helping reduce the cost of fertiliser production. Meanwhile, the GST on tractors with engines below eighteen hundred cc has been reduced to just 5 per cent GST, from the previous 12 per cent, directly benefitting farmers by making mechanisation more affordable. Furthermore, taxes on processed fruits and vegetables have also been moved to a 5 per cent supporting food processing units. Talking to Akashvani News, Rajaram Chowdhari, a Pune-based farmer, hailed the government’s move to cut taxes on agricultural items.
These reforms are aimed at increasing farm profitability, reducing production costs and strengthening the rural economy across India.
Must Read
- Advertisement -
