Indian Farm Sector Hit Hard by GST

A month after the Goods and Services Tax (GST) kicked in, the Indian farm sector is feeling the heat, with stakeholders saying the cost of cultivation has gone up and farmers may find their profession unviable, according to an article on TimesofIndia.com.

The biggest blow comes in the rate of tax on electrical agricultural appliances that have been classified under the highest tax slab, along with luxury and goods such as tobacco, soft drinks and fast food and air-conditioners.

The appliances such as agriculture motor starters, agriculture submersible pump starters, fuse units and allied switchgears used by farmers have been classified under the 28% GST slab. These equipments earlier attracted an effective tax burden of 17.5 % that included 5.5% Value Added Tax and 12.5% excise duty.

“The new tax rate on agri-electricals has dealt a body blow to both the farm sector and the small-scale industry manufacturing units these appliances,” Ratnaraj Pirgal, taxation committee head, Bengaluru Switchgear Manufacturers Association (BSMA).

Read the full story on TimesofIndia.com.

Topics:

Asia

Agrichemicals

CAC Crop Protection Show Continues to Expand

China’s agrichemical industry continues to deal with strict environmental regulations, which have impacted sourcing around the world. CAC 2018 gives

Agrichemicals

Global Crop Protection Market: Overcoming Challenges and Finding Opportunity in 2018

The end of the old year and start of the new is a natural time to reflect on where we’ve

china-farm-agriculture
Asia

Why China Needs Bigger Farms

Communist countries have always liked model workers, according to an article on TheEconomist.com. Zhang Xinsheng is China’s latest farmer to

Asia

Indian Crop Care Chief: Budget Must Focus on Farm Exports

The Crop Care Federation of India has urged the Centre to focus on increasing the country’s agriculture exports by facilitating

wheat-field
Africa/Middle East

Changing the Narrative: It’s Not Just About Yield

For years now when someone outside the industry asks what I do, I give them the “elevator speech,” the 30-second

Aarav-Unmanned-Systems-team
Asia

12 Indian Agritech Startups to Watch Out For in 2018

Farming is a profession of hope. And India holds the record for the second-largest agricultural land in the world, with

China-Soy-Shipments
Asia

U.S. to Tighten Standard for Soy Shipped to China

U.S. officials will impose stricter quality controls on exports of soybeans headed to China in response to a request from

Asia

ICAR: Indian Farming Needs Tech Revolution to Ensure Food Security

If food security needs to be ensured in India, there must be a technological revolution in agriculture, director of Indian

Asia

India: Farm Data Set to Get Space Tech Boost

The quality of India’s agriculture sector statistics could soon improve with the government tapping satellite imagery technologies to upgrade the

Rice
Agrichemicals

Agrichemicals: India Has Room to Grow

India is growing and it is growing at a fast pace. The growth has been seen on every front —

corn-field-close-up
Asia

China Reduces Corn Planting Area Amid Excessive Stock

China’s corn planting area is expected to be reduced by 1.33 million hectares in 2017 as the country seeks to

Agrichemicals

Slideshow: AgriBusiness Global Hosts Trade Summit Southeast Asia

AgriBusiness Global hosted its Trade Summit Southeast Asia from Dec. 5-6 in Jakarta, Indonesia at the J S Luwansa Hotel.

Asia

China’s Citic Sees Brazil as Growth Driver After Corn Deal

Citic Agri Fund, an investment vehicle created by China’s largest conglomerate, has chosen Brazil as the platform for its global

Agrichemicals

PMFAI Hosts 12th Annual Conference & Exhibition

The 12th International Crop Science Conference & Exhibition (ICSCE) organized by the Pesticides Manufacturers & Formulators Association of India (PMFAI)

Gharda-Chemicals
Asia

Unique Strength in R&D, History Guide Gharda’s Growth Path

N.P. Nair, Vice President of International Sales, shares his perspective on the company’s vision and other issues impacting the market,

ChemChina
Asia

ChemChina Thrives at Home on Strategy of ‘Going Out’

Back when the Chinese government was encouraging state-owned enterprises and private sector companies to “go out” of the country, few

Asia

How Technology Can Drive Change in Indian Agriculture

India is witnessing an agritech revolution spurred by about 300 entrepreneurs who are trying to disrupt the agricultural supply chain

Asia

Sinochem Launches Intelligent Farming Platform

The Sinochem Group has launched an intelligent agricultural platform in east China’s Anhui Province, which the major producer of chemicals

china-farm-agriculture
Asia

China to Phase Out More Pesticides in Push to Improve Food Safety

China plans to eliminate another 12 highly toxic pesticides from use within five years, state media reported late on Monday,

Latest News

Biostimulants

Sigma Agriscience Acquires Agricultural Solutions Company AM-AG

Sigma Agriscience, a manufacturer of granular biofertilizers and biostimulants, has acquired a controlling interest in AM-AG, an international marketer and

Africa/Middle East

Kenya Dairy Industry Sheds Light on Market Challenges, Opportunities

In December, I had the privilege to serve as a volunteer consultant with the USAID Farmer-to-Farmer (F2F) program in Kenya.

Agrichemicals

Opinion: Why the Crop Protection Industry Needs Strategic Vision

The crop protection industry faces a dilemma. In the uncertain and globally competitive world of crop protection, focus has primarily

NPK

Sustainability at The Mosaic Company: Former CEO Shares Insight into How They Did It

Leading an organization today requires navigating the pushes and pulls of multiple stakeholders: generating shareholder returns, delivering value to customers,

Africa/Middle East

Eastern African Nations Move to Harmonize Fertilizer Regulations

Eastern Africa countries are working to harmonize the region’s fertilizer market, a move that could improve not only demand for