Skip to main content

Farmers ask govt to roll back 5% tax on raw tobacco

By

A farmers´ association has asked the government to roll back 5 per cent goods and services tax (GST) on raw tobacco and exempt it from the tax bracket like any other agricultural crop.Fearing drop in prices of tobacco leaves and raw tobacco after the new tax regime come into effect next month, tobacco farmers across Andhra Pradesh have stalled auctions in all platforms, said the Federation of All India Farmer Associations (FAIFA) in a statement. Terming the rate on tobacco “unrealistic”, farmers said it will severely endanger their livelihoods and asked the government to do away with it in the upcoming GST review meeting on June 18. “Farmers from different auction platforms in the Southern Black Soil (SBS) region decided not to bring their produce to the market to protest 5 per cent GST on tobacco leaves and 28 per cent on unmanufactured tobacco,” said FAIFA Vice President Gadde Seshagiri Rao. According to FAIFA, raw tobacco and unmanufactured tobacco were exempted from the central excise from the time of Charan Singh government considering their difficulties.

Business Standard New Delhi, 14th June 2017

Comments

Post a Comment

Popular posts from this blog

Data storage norm splits digital payments industry

By
Data storage norm splits digital payments industry  India’s nascent digital payment industry could be thrown into disarray due to the demand by the Reserve Bank of India (RBI) that all user data be stored within the country, fears an industry grouping, which has termed the decision as “heavy-handed”, even as others, including the country’s largest digital payment provider Paytm, have hailed the move.  In a bid to narrow the growing schism, the industry is planning to send a formal representation to the regulator highlighting its concerns, a top official told ET.  “We are trying to build a consensus on the issue," said the person adding that the representation to the central bank will be ready this week.  RBI on April 6, mandated all payment companies—global and local—to set up data storage facilities within India by October. The stringent six-month deadline has attracted the ire of several sections of the industry that fear it will lead to a disruption of wel...
18 comments
Read more

Offer’s for all of you

By
Great Bumper Dhamaka Offer’s for all of you... It's Time to see your Business Online, WebeCreator Offer Website Designing with domain & Email @ nominal charges. For a year For More information visit us http://goo.gl/KlpppF call on 9890151261/9773197533  drop a mail to sales@webecreator.com
Post a Comment
Read more

Sebi to finalise options in commodities today

By
The Commodity Derivatives Advisory Committee of the Securities and Exchange Board of India ( Sebi) will meet on Friday with senior officials of the latter, to give a final shape to the rules on options trading in commodity futures, beside revising the warehousing norms to ensure good delivery on settlement. The decision taken, after discussing with the advisory committee, will be placed before the regulator’s board, to finalise the regulations. According to knowledgeable sources, three commodities in each segment, agricultural and non- agricultural, have been proposed for introducing options. It appears commodities from the soya and guar segments are preferred in the former. From the non- agri segment, it is likely that gold, silver and crude oil will be finalised. All these These have better liquidity and both the National Commodity and Derivatives Exchange and the Multi Commodity Exchange, respectively, will be able to introduce the options. In the equity segments, options ar...
17 comments
Read more