According to sources, the fitment committee has recommended slashing the GST on supply of all fortified rice kernels, including that for use in PDS/welfare schemes, to 5% from 18% at present, and the tax on raisins (which are not pre-packed) to nil from 5%.
"The request from industry was for nil rate for fortified rice kernels other than pre-packaged and labelled ones, and a 5% rate to apply on prepackaged and labelled items," said a source.
Separately, the 33-member Centre-state body may deliberate on the possible inclusion of aviation turbine fuel (ATF) under the ambit of GST. Currently, ATF attracts 11% central excise duty, and value added tax (VAT), which varies across states. Most of the states impose VAT on ATF between 1-5%, and only a few - Bihar, Tamil Nadu, West Bengal, Delhi, and Assam - impose the tax at higher rates of 20-30%.
This story is from the December 21, 2024 edition of Financial Express Bengaluru.
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This story is from the December 21, 2024 edition of Financial Express Bengaluru.
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