Dairy Budget Key-points in India: GST Nil on Butter, Paneer & Ghee; No Export Duty for SMP Exports

To supplement centres endeavours to safe guard country's nourishment security, the dairy sector has requested for a nil or zero tax on dietary items such as butter, ghee, and paneer from the current 12 % Goods and Services Tax (GST). Nirmala Sitharaman, Finance Minister has been approached by the Indian Dairy Association (IDA) looking for zero tax on the bundled dairy items. "We have appealed to the Finance Minister to lessen the GST on butter, ghee and paneer from current 12 percent to 0 percent. Right now, bundled paneer pulls in 12 percent GST while unpacked paneer is sold without GST. The centre is spending a great deal on nourishment security. Ghee and paneer are a rich wellspring of sustenance," said GS Rajorhia, President, IDA. Skimmed Milk Powder (SMP) Stocks: The dairy body has additionally raised the issue of making a level battleground for Indian dairy units to sell skimmed milk powder (SMP) stocks, that had accumulated during the lock-down time frame. "Currently, we ...