Tridge summary
The GST Council has decided to reduce the Goods and Services Tax (GST) on millet flour food preparations from 18% to 5%. The move is aimed at increasing public access to nutritious millet-based food items and is in line with India's efforts to promote millets as a climate-resilient crop with numerous health benefits. The decision was made during the 52nd GST Council meeting chaired by Finance Minister Nirmala Sitharaman in New Delhi.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The Goods and Services Tax (GST) Council on Saturday decided to slash GST on millet flour food preparations from the current 18 per cent GST to 5 per cent, reported ANI citing sources. The fitment committee of the GST Council had earlier recommended the exemption on powdered millet. The committee had refused to give any incentive for prepared produce made out of millet.Millet flour, known for its nutritional value and health benefits, has gained popularity among health-conscious consumers in India. The governments objective in lowering the GST rate on millet flour food preparations is to enhance public access to these nutritious food items.India is observing 2023 as the Year of Millets and the government is making efforts to boost the production and consumption of millets. Earlier Union Agriculture Minister Tomar said millets are climate resilient and can be grown in less water and with minimal use of fertilizers and pesticides. Acting upon India's proposal supported by 72 ...
Source: Economic times
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.