Firms not passing on ITC in prepacked Dairy may face profiteering charges
Companies not passing on the benefit of Input Tax Credit (ITC) on pre-packaged dairy and agro items may face profiteering charges. Experts say prices of such products need not go up by a flat 5 per cent because of ITC. One of the responses in an FAQ (Frequently Asked Questions) issued by the Central Board…
TRS condemns GST on dairy products lik e curd, butter milk and Lassi
By imposing five per cent GST (Goods and Services Tax) on milk and dairy products like curd, buttermilk and lassi, the Central government was increasing the burden on the poor and the middle class people, alleged Telangana Rashtra Samiti (TRS) Warangal district president and Wardhannapet MLA Aroori Ramesh. As per the call given by TRS…
Gujarat starts vaccinating cattle against dreaded Lumpy Skin Disease
The Gujarat government has started vaccinating cattle against the dreaded Lumpy Skin Disease (LSD) that is found in milch cattle, the State agriculture and animal husbandry department said. Caused by the pox virus and believed to be spread by blood-feeding insects such as mosquitoes, bees/flies etc., Gujarat had reported LSD cases initially in June-July last…
CHOBANI’S FOUNDER MR. HAMDI ULUKAYA SDG ADVOCATE BY UN
Amidst the growing number of humanitarian crises facing the world, today United Nations Secretary-General António Guterres announced Mr. Hamdi Ulukaya, Founder and CEO of Chobani as a Sustainable Development Goals Advocate. “The Sustainable Development Goals are the world’s blueprint to build a healthier, greener and sustainable future by 2030. With the clock ticking and multiple…
EU reviews dairy safety controls in Poland and Netherlands
Two audits by the European Commission’s health and safety unit have looked at milk and dairy products in Poland and the Netherlands. A remote DG Sante audit, in March 2021 in Poland found the system was well-designed but a lack of training and internal audits weaken the effectiveness. Dairy products with traditional characteristics are sold…
Hatsun Agro reports 12% decline in net profit in Q1
Hatsun Agro Product Ltd, the Chennai-based dairy company, reported a 12 per cent decline in net profit to ₹52 crore in the first quarter ended June 30, 2022 as against ₹59 crore for the same quarter last year. Revenue was up 31 per cent to ₹2,015 crore (₹1,539 crore). For the first time, the company…
Will ask traders not to pass on 5% GST on dairy products to consumers
Dealers, who were not claiming the input tax credit earlier, can get it reimbursed now Chief Minister Basavaraj Bommai, who also heads the Group of Ministers (GoM) on GST rate rationalisation, announced here on Monday that he will ask traders not to pass on to consumers the 5 per cent GST levy on dairy items,…
Amul achieves group turnover of Rs 61,000 crore for FY 22
Turnover grew by 18.46% YoY – faster than its 12-year CAGR of 16% Dairy major and Amul marketer, Gujarat Cooperative Milk Marketing Federation (GCMMF), on Tuesday reported group turnover of ₹61,000 crore for the fiscal 2021-22. The dairy federation held its 48th Annual General Body Meeting on Tuesday. GCMMF is a federation of 18 members district dairy…
Stay packed Stay taxed! Stay Hygienic Stay Foolish !
Today is 18th July 2022. GST of 5% will be levied on healthy and hygienically packed curd, buttermilk, lassi and Paneer from today. Covid-19 created a paradigm shift in the eating choice of the public at large. Dairy products due to high quality of their protein emerged as best in class super foods. There was…
Amul MD Urges Jammu-Kashmir LG To Identify Land For Dairy Plant
Gujarat Cooperative Milk Marketing Federation Managing Director Rupinder Singh Sodhi on Sunday urged Jammu and Kashmir Lieutenant Governor Manoj Sinha to identify a suitable land to set up a new dairy plant in the UT, an official spokesperson said. Sodhi, accompanied by JKMPCL CEO Gaurav Sharma, informed Sinha that the implementation of Integrated Dairy Development…