Sanjana asked 6 years ago
The agriculture industry and farmers due to 5% GST rates on agricultural products. After the introduction of GST influencing the common people living in all section of the society. Agriculture Ministry discussed issue of deep irrigation machine prices with the finance ministry in the recent 25th GST council meeting. The GST council has now on Sprinkles and Nozzles which was earlier attracting 18% now applicable 12% GST. As the government want to focus on deep irrigation techniques to support agriculture practices in India.
6 Answers
msdeore777
kadam123 answered 6 years ago
The impact of GST on agricultural sector is foreseen to be positive. The agricultural sector is the largest contributing sector the overall Indian GDP. It covers around 16% of Indian GDP. The implementation of GST would have an impact on many sections of the society.
pasha answered 6 years ago
Goods and Services Tax is a single and a broad based tax levied on goods and services consumed in an economy. Agricultural sector has been the root of Indian economy and it contributes to around 17.4 per cent to GDP.
nileshpatil1834 answered 6 years ago
The impact of GST on agricultural sector is foreseen to be positive. The agricultural sector is the largest contributing sector the overall Indian GDP. It covers around 16% of Indian GDP. The implementation of GST would have an impact on many sections of the society
pashyadm answered 6 years ago
agri sector got some oost after implementation of GST due to reduced tax
dbshaikh answered 6 years ago
IMPACT OF GST ON AGRICULTURAL SECTOR. ... GST would also help in reducing the cost of heavy machinery required for producing agriculturalcommodities. Under the model GST law, dairy farming, poultry farming, and stock breeding are kept out of the definition of agriculture. Therefore these will be taxable under the GST.