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Sugar, Tea and Coffee to be in GST ambit
Commodity Online | May 19 2017
UPDATED 11:16:22 IST

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The GST council has fixed a Goods and Service Tax (GST) rate of 5 percent on Sugar, Tea, Coffee and Cooking Oil, while excused Grains and Cereals.

The bigger impact of GST tax is considered to be on the small players who trade in cash. As per the Indian Sugar Mills Association states like Tamil Nadu and Andhra Pradesh will get Sugar at cheaper price with the entry of GST, as they presently have VAT on Sugar.

While other states will not have any impact with the GST tax as the current taxation for Sugar in those regions are about 5.5 percent. Presently, Sugar mills pay Rs 71 per quintal as excise duty on Sugar and Rs 124 per quintal as the Sugar cess and education cess.

The Sugar millers in the country are happy with the GST tax decision, while the traders are not, as they want Sugar to be included in the 0 percent tax bracket.

Commodity Arrivals Rate
Mustard Oil NR 10500.00
Coconut Oil 35 15550.00
Arecanut 4 2700.00
Sugar NR 4550.00