GST confers Goods and Services Tax. It is a uniform tax applicable to the whole of India. It is an indirect tax that replaces the value-added tax (VAT), purchase tax, service tax, excise duty, etc. The new GST rates were announced by Union Finance Minister Nirmala Sitharaman, and the hiked rates came into force on the 18th of July 2022. Earlier, the Dairy products were exempt from the GST rate list. But after the 47th meeting of the GST Council, the GST rates were imposed on dairy products from nil. The GST rates were increase on the machinery utilised in the dairy product companies. In this blog, we have discussed the GST rates of dairy products, their effect on consumers, farmers, etc.
What is the GST Rate for Dairy products – Taxkundali