Decision to reduce Tax Rate on Fertilizers from existing 12% to 5 % under GST taken in the interests of the Farmers
GST
Dated:- 1-7-2017
Decision to reduce Tax Rate on Fertilizers from existing 12% to 5 % under GST taken in the interests of the Farmers
\nUnder GST regime, a uniform MRP of ₹ 295.47 per 50 kg bag to be fixed across the country
\nGST regime to deter inter-state smuggling of fertilizers by integrating the entire fertilizer market into a Single Market
\nFarmers to benefit to the tune of ₹ 1261 crores under GST regime: Shri Ananthkumar
\nUnion Minister for Chemicals & Fertilizers and Parliamentary Affairs, Shri Ananthkumar briefed the media on the outcome of the 18th meeting of the GST Council, held here on <\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n d, there will be a uniform MRP of ₹ 295.47 per 50 kg bag across the country except couple of States where additional VAT is charged on the natural gas as Natural gas has not been brought within the ambit of GST. However, even in these States, MRP will reduce by ₹ 3 per 50 kg bag. Similarly, MRP of P&K Fertilisers, for which the prices are not administered, are also expected to come down on an average basis as the incidence of tax will be lower than the existing tax on an average, the Minister added. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Decision to reduce Tax Rate on Fertilizers from existing 12% to 5 % under GST taken in the interests of the Farmers GSTDated:- 1-7-2017Decision to reduce Tax Rate on Fertilizers from existing 12% to 5 % under GST taken in the interests of the Farmers Under GST regime, a uniform MRP of ₹ 295.47 per … Continue reading “Decision to reduce Tax Rate on Fertilizers from existing 12% to 5 % under GST taken in the interests of the Farmers”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5562","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/5562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5562"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/5562\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe GST regime, apart from integrating the entire fertilizer market into a single market, will also deter inter-state smuggling of fertilizers which may be currently happening due to differing levels of taxes and consequently MRPs i<\/p>\n
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