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GST on fertilizer reduced from 12pct  to 5 pct, says govt

GST on fertilizer reduced from 12pct to 5 pct, says govt

India Blooms News Service | | 30 Jun 2017, 09:29 pm
New Delhi, June 30 (IBNS): In a major decision, the government on Friday decided to reduce fertilizers from 12% to 5% & on exclusive parts of tractors from 28% to 18%.

"GST Council today decided to reduce GST rate on fertilizers from 12% to 5% & on exclusive parts of tractors from 28% to 18%," the Ministry of Finance‏ tweeted.

The biggest tax reform since Independence, Goods and Services Tax (GST) will roll out on July 1.

Several opposition parties like Congress, Trinamool Congress, Rashtriya Janata Dal, Left boycotted the GST celebration on June 30 midnight, to be organised by the government.

Opposition has cited the unprepared small and medium scale industry as the reason for their boycott. They called it an implementation in hurry.

Attacking the Modi government for lack of foresight in the GST implementation, Congress vice president Rahul Gandhi called the biggest tax reform a 'tamasha' (drama).

President Pranab Mukherjee and Prime Minister Narendra Modi will be present at the celebration.

 

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