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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
Milma demands Roll back of recently announced gst on fresh milk products
‘Move to cause severe stress on country’s strained dairy sector’ The Kerala Cooperative Milk Marketing Federation (KCMMF), known by its brand name Milma, has demanded rollback of the GST Council’s decision to impose 5% GST on relabelled and repackaged buttermilk, curd, lassi and paneer, and steeply raise the tax on dairy machinery from 12% to […]
Prices of Curd, Lassi and Buttermilk likely to rise after imposition of 5% GST
In the 47th meet, the GST Council chaired by Finance Minister Nirmala Sitharaman under withdrawal of exemptions, said, “hitherto, GST was exempted on specified food items, grains, etc when not branded, or right on the brand has been foregone. It has been recommended to revise the scope of the exemption to exclude from its prepackaged and pre-labeled […]