New Delhi: The GST Council, on Saturday, decided to reduce the GST on molasses to 5 percent from 28 percent.
While addressing the press conference, Union Finance Minister Nirmala Sitharaman commented on the GST on molasses, stating, “GST has been reduced from 28% to 5%. This will benefit sugarcane farmers we hope, and this will enable their dues to be cleared faster because more money will be left in the hands of the mills or whoever. The council and we all feel that it’ll also lead to a reduction in the cost of manufacturing of cattle feed, which will be a major development.”
