Assocham seeks lower GST rate for bio-agro inputs
New Delhi, July 12 (IANS) Industry lobby Assocham on Wednesday urged the government to lower the Goods and Services Tax (GST) rates for select agricultural inputs, failing which use of chemical fertilisers will get a boost.
Higher GST in this segment will directly promote chemical use, thereby leading to an increase in green house gas emissions. Besides, it will also adversely impact public health, Associated Chambers of Commerce and Industry of India (Assocham) said in a communication addressed to Union Finance Minister Arun Jaitley here.
It asked the government to lower the tax rates on biofertilisers, biopesticides/biological control agents (BCA) and branded organic manure/vermicompost/ farmyard manure (FYM).