GST Council Recommends Reducing GST On Molasses From 28% to 5% In Relief To Cane Farmers For Faster Clearance Of Dues And To Reduce Cost Of Manufacturing Cattle Feed

The 52nd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman recommends reducing GST on molasses from 28% to 5% in relief to cane farmers for faster clearance of dues and to reduce the cost of manufacturing cattle feed.

Reducing GST on molasses from 28% to 5% will increase liquidity with mills and enable faster clearance of cane dues to sugarcane farmers. This will also lead to a reduction in cost for the manufacture of cattle feed as molasses is also an ingredient in its manufacture.

Click Here To Read The Press Release