The Centre recently announced major Goods and Services Tax (GST) reductions across key sectors impacting cooperatives, farmers, rural enterprises, and over 10 crore dairy farmers nationwide.
The Ministry of Cooperation stated that these reforms will strengthen the cooperative sector, enhance competitiveness, boost product demand, and raise cooperative incomes. The changes will promote rural entrepreneurship and ensure affordable access to essential goods.
In the dairy sector, milk and paneer, whether branded or unbranded, are now fully exempt from GST. The tax on butter, ghee, and similar products has been reduced from 12% to 5%, and the same applies to milk cans made of iron, steel, or aluminium.
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These reforms will make dairy products more competitive, support women-led rural enterprises like self-help groups, and improve nutrition security by making essential protein and fat sources affordable.
Additionally, GST on tractors below 1800 cc is now 5%, helping crop and animal husbandry farmers. GST on key fertiliser inputs, ammonia, sulphuric acid, and nitric acid, has also been cut from 18% to 5%, reducing input costs and ensuring affordable fertilisers during sowing seasons.
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