Chouhan said that GST on bio-pesticides and micro-nutrients has been reduced, which will benefit farmers. Additionally, the trend of farmers shifting towards bio-fertilisers will likely increase. In the dairy sector, there will now be no GST on milk and cheese. This will not only benefit the
The recently announced next-generation Goods and Services Tax (GST) reforms will significantly benefit India's agriculture sector, particularly the rice industry, Indian Rice Exporters Federation's Vice President, Dev Garg, said.
Haryana Chief Minister Nayab Singh Saini on Saturday hailed the "historic" decisions taken at the 56th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman, under the guidance of Prime Minister Narendra Modi.
The sweeping GST reforms unveiled this week will strengthen the cooperative sector, make their products competitive, increase demand for their products and increase the income of cooperatives, the Ministry of Cooperation has said.
According to the automaker, ICE (Internal Combustion Engine) models like the XUV3XO (Diesel) see the most substantial savings, with a benefit of up to Rs 1.56 lakh, as the GST rate drops from 31 per cent to 18 per cent.
BJP MLA Mahesh Tenginkai on Saturday criticised the Congress party over its response to the recent GST reforms, calling it a "drama company" and crediting the Modi government for implementing key economic measures.
Works for the recently-unveiled next-generation GST reforms had started around one-and-a-half years ago, and it has nothing to do with any external factors, Union minister and BJP leader Ashwini Vaishnaw told reporters Saturday, addressing a press conference from the party headquarters.
Congress leader Ashok Gehlot on Saturday credited LoP in Lok Sabha Rahul Gandhi for predicting the worries of people regarding GST, stating that almost every prediction made by Gandhi has proven correct.
The income tax relief provided for in the 2025-26 Budget, coupled with GST rate rationalisation, is set to further push India's economy to another level, Union minister and BJP leader Ashwini Vaishnaw told reporters Saturday, addressing a presser from the party headquarters.
Global financial services firm Bernstein also echoed similar sentiments to those of several other experts that the sweeping GST rate cuts will boost India's consumption.
The Indian agriculture sector has hailed the restructuring of Goods and Services Tax (GST), as the Indian Rice Exporters Federation (IREF) on Saturday said that the reform will help the farmers due to the enhanced demand.