GST Cut: Agri Minister Meets Farm Equipment Industry

New Delhi, Sep 18 (PTI) Agriculture Minister Shivraj Singh Chouhan will hold discussions with industry players on Friday to ensure the smooth implementation of the recent cut in Goods and Services Tax (GST) on tractors and other farm equipment.

The government has reduced GST from 12-18 per cent to 5 per cent on various agricultural machinery and equipment effective September 22. This will reduce the retail prices by 7-13 per cent.


"Farmers will also gain the dual benefit of subsidy schemes combined with lower taxation, while indigenous agricultural machinery manufacturers will receive a competitive edge under the vision of Atmanirbhar Bharat," an official statement said.

The meeting will focus on ensuring the benefits of GST rate cuts are widely passed on to farmers.

Representatives of the Tractor and Mechanisation Association (TMA), Agricultural Machinery Manufacturers Association (AMMA), All India Combine Harvester Manufacturers Association (AICMA), Power Tiller Association of India (PTAI), and organisations will be present in the meeting.