Finance ministry cuts GST on retreaded tractor tires to 5%
Starting November 1, retreaded tractor tires will be taxed at just 5% GST instead of the previous 18%.
Announced by the finance ministry, this move is meant to give farmers, especially those with smaller budgets, a bit of a break as they gear up for winter planting.
Cheaper tire options should make things a little easier in the fields.
GST changes: fertilizers, reverse charge, warehouses
There's more on the tax front: the 5% GST category for pre-packaged and labeled animal, vegetable and organic fertilizers will include seaweed-extract-based biostimulants, provided they are registered under the specified fertilizer control order.
Registered businesses buying used cooking oil or plastic waste from unregistered sellers now have to pay GST under updated reverse-charge rules.
Plus, cross-border online sellers can use e-commerce warehouses as their main address for easier GST registration in other states, good news for small businesses trying to grow online.