Biscuit manufacturers call for lower GST rate, cite mass comsumption

    Biscuit manufacturers today demanded a lower GST rate on biscuit and related products than the current 18 per cent, saying it is a mass consumption food product and similar products are subject to lower tax rate. Stating that about 15 per cent sales have gone down post GST implementation, Indian Biscuits Manufacturers Association (IBMA) said consumers of biscuit belong predominantly to the poorer segment and will hurt the 2.5 crore employment created by the industry. The association called for bringing down GST rate on biscuits between 5 per cent and 12 per cent saying it is not a premium product and higher tax will lead to stagnation in growth of the industry. "This is a labour oriented industry and mostly local workers get employment. Read more...

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