Day: January 18, 2021

Agrochem sector seeks GST cut to spur use of crop protection chemicals

Pesticide and agrochemical makers have sought a reduction in the GST in the Finances to spur the use of crop defense chemical substances by farmers in the state.

The Pesticide Suppliers & Formulators Association of India (PMFAI) has suggested lowering GST on pesticides to five for every cent from the present eighteen for every cent in line with other agri inputs this kind of as seeds and fertilisers.

PMFAI is an industry overall body consisting of over two hundred smaller, medium and large scale domestic pesticide companies, formulators and traders.

Increase responsibility drawback to raise exports

Additional, PMFAI has also made a pitch for increasing responsibility drawback on exports of pesticides to 13 for every cent from the recent two for every cent. Also, it has suggested an maximize in customs responsibility on imports of completed pesticide formulations or chemical substances to a minimum of thirty for every cent and

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