Govt to impose minimal GST on agri products: Harsimrat Kaur
Updated: Jan 12, 2015 03:50:18pm
New Delhi, Jan 12 (KNN) The Ministry of Food Processing Industries has assured India Inc that the sector would have the minimum imposition of goods and service tax as and when it is rolled out and it would be its attempt to keep perishable agricultural products outside the purview of the GST.
Union Minister for Food Processing Industries Harsimrat Kaur Badal gave this assurance to the President of the PHD Chamber, Alok B Shriram here on January-9 when he led a delegation, consisting of its Senior Vice President, Mahesh Gupta, Vice President, Gopal S Jiwarajka and Executive Director Saurabh Sanyal to her office for a courtesy call.
The Minister also indicated that the government is likely to extend preferred policy options for the food and food processing sector including agricultural business so that this sector is evolved for an exclusive growth to make sure that all stakeholders in it gain-in in an equitable manner.
On his part, Shriram apprised the minister that the government should evolve policies so that farm produce is effectively channelized to consumers with little losses as currently the post crops losses are enormous in the absence of adequate infrastructure.
On the issue of GST, the Chamber pressed for its execution as promised by the government by April 2016 and also requested that fair and effective food standards be evolved to ensure its quality and exports.
The food processing industry, due to its diverse nature and a policy of SSI reservations, has ordained a predominant role for small enterprises. The organised sector, consisting of mostly large companies, accounts for only 25 per cent of the market; while the remaining 75 per cent of the market is divided between the small scale and the unorganised sectors. The micro and local community based food processing enterprises have dominated the primary processing segment of the industry. Small and medium firms are mostly operating in niche markets. (KNN Bureau)
Union Minister for Food Processing Industries Harsimrat Kaur Badal gave this assurance to the President of the PHD Chamber, Alok B Shriram here on January-9 when he led a delegation, consisting of its Senior Vice President, Mahesh Gupta, Vice President, Gopal S Jiwarajka and Executive Director Saurabh Sanyal to her office for a courtesy call.
The Minister also indicated that the government is likely to extend preferred policy options for the food and food processing sector including agricultural business so that this sector is evolved for an exclusive growth to make sure that all stakeholders in it gain-in in an equitable manner.
On his part, Shriram apprised the minister that the government should evolve policies so that farm produce is effectively channelized to consumers with little losses as currently the post crops losses are enormous in the absence of adequate infrastructure.
On the issue of GST, the Chamber pressed for its execution as promised by the government by April 2016 and also requested that fair and effective food standards be evolved to ensure its quality and exports.
The food processing industry, due to its diverse nature and a policy of SSI reservations, has ordained a predominant role for small enterprises. The organised sector, consisting of mostly large companies, accounts for only 25 per cent of the market; while the remaining 75 per cent of the market is divided between the small scale and the unorganised sectors. The micro and local community based food processing enterprises have dominated the primary processing segment of the industry. Small and medium firms are mostly operating in niche markets. (KNN Bureau)
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