Fertilisers’ Rates Decline After GST in State
Saturday - August 19, 2017 2:31 am ,
Category : MADHYA PRADESH
Bhopal: After Goods and Service Tax (GST) implementation in Madhya Pradesh, fertilisers and pesticides rates have declined in the state. The fall in prices will benefit farmers economically. The Farmers Welfare Department has issued a new rate list for the convenience of the farmers.
It may bementioned that there was total 7 percent tax on the fertliser trade before the GST which has now came down to 5 percent after the GST roll out.
Moreover, decline in pesticides prices has come down after the implementation of GST in the state. Earlier, there was 12.5 percent excise duty, 5 percent VAT and One percent entry tax on the pesticides. Now 18 percent tax has been levied on pesticides after the GST. Now transportation of pesticides without bills, its distribution and sale is not possible after the GST. Farmers are being benefitted by this and are getting quality pesticides now.
Furthermore, prices of agriculture equipments have also come down owing to the impact of the GST. The Farmers Welfare department has informed that the farmers will avail the benefit of low rates on new products of agriculture equipments on their arrival in the market. The proposed rate of GST is 12 percent and the cost of tractor has come down by 1 to 2 percent. Earlier, there was 5 percent VAT on tractots and 12 to 24 percent tax on its spare parts.-WTN
It may bementioned that there was total 7 percent tax on the fertliser trade before the GST which has now came down to 5 percent after the GST roll out.
| Fertliser’s Name | Before GST Selling Rate per Bag (In Rupees) |
After GST Selling Price per Bag (In Rupees) |
Rate Difference per Bag (In Rupees) |
| Neem Coated Urea | 301 | 295 | (-) 6 |
| DAP | 1086.75 | 1076 | (-) 10.75 |
| 12:32:16 | 1081 | 1061 | (-) 20 |
| 10:26:26 | 1060 | 1055 | (-) 5 |
| Potash | 583 | 577 | (-) 6 |
| Single Super Phosphate | 278.17 | 273 | (-) 5.17 |
Moreover, decline in pesticides prices has come down after the implementation of GST in the state. Earlier, there was 12.5 percent excise duty, 5 percent VAT and One percent entry tax on the pesticides. Now 18 percent tax has been levied on pesticides after the GST. Now transportation of pesticides without bills, its distribution and sale is not possible after the GST. Farmers are being benefitted by this and are getting quality pesticides now.
Furthermore, prices of agriculture equipments have also come down owing to the impact of the GST. The Farmers Welfare department has informed that the farmers will avail the benefit of low rates on new products of agriculture equipments on their arrival in the market. The proposed rate of GST is 12 percent and the cost of tractor has come down by 1 to 2 percent. Earlier, there was 5 percent VAT on tractots and 12 to 24 percent tax on its spare parts.-WTN
