Sugar price may be hike
Saturday - April 28, 2018 11:47 am ,
Category : WTN SPECIAL
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APRIL 28(WTN) - If you are fond of eating sweet, then this news is for you because sugar prices may increase in the coming time. According to the information, the GST Council can impose cess on sugar because the sugarcane farmers have an outstanding of Rs 19,780 crores till the end of March.
GST Council may decide to apply cess on sugar on the 4th of next month. The funds to be collected from cess to be paid to the sugarcane farmers. Finance Minister Arun Jaitley chaired this meeting to be held on 4th of May. According to the information, through this fund, sugarcane farmers will be given money according to the recommendations of the Rangarajan Committee. In Uttar Pradesh and Maharashtra sugar mills have a lot of dues farmers.
Prior to the elections of 2019, paying dues of sugarcane farmers can give great relief to the government. According to sources, cess of sugar can be between 1 to 1.5 rupees. In this regard, the Ministry of Food also wrote a letter to the Ministry of Law and Ministry of Finance for advice.
Rangarajan Committee suggested to give a suitable price for sugarcane in 2012. At present, the price of sugar in the factory has fallen by 23 percent. This is Rs 2,800 per quintal. If the Rangarajan formula is added in it, the farmers will get Rs 226.80 per quintal. By the end of March, sugarcane farmers have owed Rs 19,780 crore. Although cess in GST is against its rules, but it is believed that GST Council may decide on this important issue in the meeting to be held on 4th may. If the council decides to apply cess, then your sugar can be expensive by 1 to 2 rupees per kg.
GST Council may decide to apply cess on sugar on the 4th of next month. The funds to be collected from cess to be paid to the sugarcane farmers. Finance Minister Arun Jaitley chaired this meeting to be held on 4th of May. According to the information, through this fund, sugarcane farmers will be given money according to the recommendations of the Rangarajan Committee. In Uttar Pradesh and Maharashtra sugar mills have a lot of dues farmers.
Prior to the elections of 2019, paying dues of sugarcane farmers can give great relief to the government. According to sources, cess of sugar can be between 1 to 1.5 rupees. In this regard, the Ministry of Food also wrote a letter to the Ministry of Law and Ministry of Finance for advice.
Rangarajan Committee suggested to give a suitable price for sugarcane in 2012. At present, the price of sugar in the factory has fallen by 23 percent. This is Rs 2,800 per quintal. If the Rangarajan formula is added in it, the farmers will get Rs 226.80 per quintal. By the end of March, sugarcane farmers have owed Rs 19,780 crore. Although cess in GST is against its rules, but it is believed that GST Council may decide on this important issue in the meeting to be held on 4th may. If the council decides to apply cess, then your sugar can be expensive by 1 to 2 rupees per kg.
