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News GST

  • Sep 20, 2017
  • Single GST rate on Oilcakes and Cottonseed oilcake

    Cottonseed oilcake will attract Nil GST rate, while all other oilcakes will bear 5% GST, irrespective of their end use, informed Solvent Extractors Association.
    Atul Chaturvedi, President of the Solvent Extractors Association said, "The Association was pursuing the authorities for rationalizing the GST on oilcakes and cottonseed oilcake irrespective of their end use. I am pleased to inform that GST Council at their last meeting had clarified that cottonseed oilcake will attract NilGST rate, while all other oilcakes will bear 5% GST, irrespective of their end use. This decision has removed ambiguities in the taxation of these commodities."

    Source - http://economictimes.indiatimes.com