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After GST MRP of Urea has decreased by 71 paise per bag

After GST MRP of Urea has decreased by 71 paise per bag

After GST MRP of Urea is down. As per the release by PIB. 

(Text from PIB) 

 All India weighted average MRP of Urea has decreased by 71 paise per bag

Minister of State for Road Transport & Highways, Shipping and Chemicals & Fertilizers, Shri Mansukh L. Mandaviya, in a written reply to a question in Lok Sabha today, informed that the all India weighted average MRP of Urea has decreased by 71 paise per bag. Therefore, the farmers have directly benefitted from GST. Further, there is adequate availability of all subsidized chemical fertilizers across the country and there is no report of any shortage, the Minister added. 

Shri Mandaviya stated that GST being an Indirect Tax, the dealers and manufacturers collect it for Government and deposit it to the Government treasury. Prior to the implementation of GST, the farmers of different States were paying different taxes (Excise Duty and VAT) ranging between 1% to 7%. With the introduction of uniform GST at 5%, the farmers of different States are liable to pay uniform tax amount. The prices of P&K fertilizers have decreased in majority of States after implementation of GST, he added. 

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VM 
(Release ID :169355)

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CA

New Delhi, India

CA Shaifaly Girdharwal is a GST consultant, Author, Trainer and a famous You tuber. She has taken many seminars on various topics of GST. She is Partner at Ashu Dalmia & Associates and heading the Indirect Tax department. She has authored a book on GST published by Taxmann.

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