Agro-Chem Industry Urges Govt To Bring Down GST On Crop Protection Chemicals To 5%
Agro-chem industry urges govt to bring down GST on crop protection chemicals to 5%
New Delhi, Jan 18 (KNN) The Agro Chem Federation of India (ACFI) on Monday urged the government to bring down the GST on crop protection chemicals to 5 per cent at par with fertilisers.
The Agro chem federation pointed out that the current GST of 18 per cent on chemicals is not in the interest of small and marginal farmers as they have to shell out more money to purchase crop protection chemicals.Read More : Agrochemicals, is their farming treachery? The industry body also appealed for a reduction in the import duty on crop protection chemicals and for the introduction of fiscal benefits for private players for undertaking research and development in the upcoming Union Budget 2023-24.
ACFI in a release said the Department of Chemicals has shortlisted 40 molecules under the PLI scheme till the day, which includes seven crop protection chemical intermediates.
It now expects for an announcement regarding the extension of the PLI Scheme to more crop protection chemical intermediates in the upcoming Budget.
New Delhi, Jan 18 (KNN) The Agro Chem Federation of India (ACFI) on Monday urged the government to bring down the GST on crop protection chemicals to 5 per cent at par with fertilisers.
The Agro chem federation pointed out that the current GST of 18 per cent on chemicals is not in the interest of small and marginal farmers as they have to shell out more money to purchase crop protection chemicals.
ACFI in a release said the Department of Chemicals has shortlisted 40 molecules under the PLI scheme till the day, which includes seven crop protection chemical intermediates.
It now expects for an announcement regarding the extension of the PLI Scheme to more crop protection chemical intermediates in the upcoming Budget.
Source: menafn.com
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