GST rate on pre-packaged, pre-labelled dairy & agri products notified
Loose sale continue to be exempted; room rent of ₹5,000 plus in hospital to attract GST Get ready to pay more not just for pre-packaged and labelled curd, lassi, flour, rice etc but also for cutleries. The Finance Ministry has notified GST rates for various goods sold as pre-packaged and pre-labelled beside others. Tax officials have…
Dairy summary of the FAO & OECD Agricultural Outlook 2022-2031
Supply World milk production[1] is projected to grow at 1.8% p.a. over the next decade to 1,060 Mt by 2031, faster than most other main agricultural commodities. Over half of the increase in total milk production is anticipated to come from India and Pakistan, which will jointly account for over 30% of world production in 2031….
Dairy price hikes create market gap for alt-protein : Eat & Beyond CEO
Steep dairy prices are disrupting operations in the sector but creating vibrant new opportunities for the plant-based segment. The demand for plant proteins from oats, soy and almonds and niche ingredients are set to gain traction. FoodIngredientsFirst speaks to Michael Aucoin, CEO of plant-based producer Eat & Beyond, about the changes enacted in these markets. “The steep increase…
Dairy Product Price Inflation Still Lagging Overall Food Inflation
All parts of the U.S. economy and at least 44 other nations throughout the world are experiencing high rates of inflation due to several global factors including the COVID-19 pandemic, ongoing supply chain woes, rising wages amid labor shortages, and Russia’s war with Ukraine, which has thrown global energy, food and fertilizer markets into disorder….
₹1,650-cr ‘price difference’ for Banas Dairy’s producers
It is no less than a celebration for Harjibhai Chaudhary, a milk producer at Thavar village in Banaskantha district of North Gujarat, as he will be getting around ₹2.5 lakh in the price difference announced by the district dairy union, Banas Dairy, for its 5 lakh milk producer members on Monday. At the 54th Annual…
Dairy Farmers to Stage Dharna in front of Parliament on 27 Jul on GST
The Dairy Farmers Federation of India (DFFI), which is part of the All India Kisan Sabha, has called upon dairy farmers across the country to join a dharna and a demonstration in front of the Parliament on July 27. The organisation has asked dairy cooperatives and traders to participate in the campaign against GST imposition on dairy…
New GST regime on dairy products will hit farmers, entrepreneurs
At a time when cost of dairying is increasing, the Goods and Services Tax (GST) Council decision to impose 5% tax on curd, butter milk, and lassi has come as a dampener for the dairy sector. “Dairy sector is a source of livelihood for people in the lower strata of society. GST on high-demand milk…
Microplastics: Polluting our blood, foetuses – and dairy and meat we eat
Microplastics are now being found in the meat and dairy we eat every day, according to a new study. A report by environmental non-profit, Plastic Soup Foundation, reveals that 73 per cent of the products they tested contained microplastics – the material left behind when plastics decompose. The research points to plastics being present in…
Impact on recent increase on GST on dairy industry by 47th GST council
The GST Council at its meeting held on July 1, 2022 have removed the exemptions on GST on repackaged, relabeled and packaged butter milk, curd, lassi and paneer. The decision states that the above products will be charged GST @ 5%. GST Council have also raised the GST on dairy machinery and milking machines from…
GST on Paneer will hit the cottage industry and dairy lovers alike
1. Due to the increase in fodder and fertilizer prices, Indian dairy and cattle farmers have been barely recovering their input costs. 2.With the new GST on cottage cheese and other dairy products, meat and dairy machinery, small farmers of the cottage industry will have to bear the brunt. 3.Experts predict that consumers will also see marginal changes in the prices of milk-related…