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Traditional sweetmeats or Mithai not confectionery, to attract 5% GST

Traditional sweetmeats or Mithai not confectionery, to attract 5% GST - Dairy News 7X7

Traditional Indian sweets cannot be categorised as ‘confectionary’ and malai sweets too may be treated as sweetmeat for applicability of GST, according to the Madhya Pradesh Authority for Advance Ruling. Confectionery includes sugar boiled sweets, lozenges, chewing gum, chocolate and ice lollies or edible ices, cakes, pastries, caramels and fudges. These attract GST at the […]

GST impact ‘marginal’ on dairy, agro items: Finance Minister

GST impact ‘marginal’ on dairy, agro items: Finance Minister - Dairy News 7X7

Finance Ministry has said that the net impact of GST on various dairy and agro products would be ‘marginal’ because of Input Tax Credit. It also acknowledged receiving petitions for re-consideration of GST on such items. “In case of pre-packaged and labelled form of such commodities, considering that the taxpayer will get input tax credit […]

Firms not passing on ITC in prepacked Dairy may face profiteering charges

Firms not passing on ITC in prepacked Dairy may face profiteering charges - Dairy News 7X7

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

TRS condemns GST on dairy products lik e curd, butter milk and Lassi - Dairy News 7X7

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

Will ask traders not to pass on 5% GST on dairy products to consumers - Dairy News 7X7

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 !

Stay packed Stay taxed! Stay Hygienic Stay Foolish ! - Dairy News 7X7

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

GST rate on pre-packaged, pre-labelled dairy & agri products notified - Dairy News 7X7

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

GST rate on pre-packaged, pre-labelled dairy & agri products notified - Dairy News 7X7

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

New GST regime on dairy products will hit farmers, entrepreneurs - Dairy News 7X7

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

GST on Paneer will hit the cottage industry and dairy lovers alike - Dairy News 7X7

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 […]