New regime will be incentive for farm mechanisation
Recent GST rate adjustments are poised to boost India’s agricultural sector, particularly benefiting small farmers. Reduced taxes on drip irrigation, bio-pesticides, and composting machines aim to promote sustainable farming practices. The fisheries sector will also see lower operational costs, enhancing competitiveness. Dairy experiences changes, with UHT milk and paneer now tax-exempt, while other milk products attract a 5% GST.🕒 1 min read
Recent GST rate adjustments are poised to boost India’s agricultural sector, particularly benefiting small farmers. Reduced taxes on drip irrigation, bio-pesticides, and composting machines aim to promote sustainable farming practices. The fisheries sector will also see lower operational costs, enhancing competitiveness. Dairy experiences changes, with UHT milk and paneer now tax-exempt, while other milk products attract a 5% GST.
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