of GST on exclusive
tractor parts
The announcement of the GST council reducing GST on exclusive
tractor parts has come as great relief to the farming community, which would
otherwise have been impacted adversely. Tractor Manufacturer’s Association was
very appreciative and thankful to Shri. Arun Jaitley, the honourable Finance
Minister, Shri. Hasmukh Adya , Revenue Secretary and the GST council for
reconsidering and reducing the GST on exclusive tractor components and parts.
Tractor manufacturers are hopeful that all the exclusive tractor parts and
components identified and furnished by them to the GST council will be fully covered
by this notification.
Thanking the Finance Minister and the GST council headed by
the Revenue Secretary, Ms.
Mallika Srinivasan, Chairman of TAFE, said, “The reduction of GST from the
earlier announcement of 28 % on tractor parts and components to 18 %, which
reflects the pre GST revenue neutral duty, will be a great relief to the hard
pressed farming community and will ensure that there is no increase in costs
for the farmers from the pre GST days.”
TMA’s
Immediate Past President and Chairman Technical Committee, Mr. T R Kesavan,
said, “This reduction will go a long way in making small and medium farmers
profitable, at a time when farm profitability has become critical.”
T R Kesavan
Immediate Past President and Chairman
Technical Committee
Tractor Manufacturers’ Association
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