GST rate on fertilser reduced to 5% from 12%: Jaitley

New Delhi June 30 (IANS) The Goods and Services Tax (GST) Council on Friday slashed the rate on fertiliser from 12 per cent to 5 per cent to reduce the burden on farmers.

Finance Minister Arun Jaitley disclosed this information after the Council meeting here hours before the roll-out of the new indirect tax regime.

Some states had kept VAT on fertilisers at lower rate. Keeping that in mind it was decided that the GST rate on fertilisers will be at 5 per cent Jaitley said.

--IANS
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