GST Council eases Indian farmers' taxes, psyllium 0%, tires 5%
Big news for Indian farmers: the GST Council just rolled out tax cuts to make things a bit easier.
At its 8 October meeting, the GST Council exempted storage and warehousing services for seeds meant for sowing, and coffee-curing services supplied to cultivators get their own exemption too.
Psyllium seeds are set at a 0% tax rate, and retreaded tractor tires will be taxed the same as new ones, at 5%.
Measures should help smaller farmers
These changes are designed to cut expenses across the farming process: think cheaper storage before planting, lower equipment costs, and less confusion about taxes on farm inputs.
The move should especially help smaller farmers who could benefit from cheaper retreading.
All in all, it's a step toward making agriculture a little less expensive and a lot less complicated.