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

Lincoln Wylie

Pesticide and agrochemical makers have sought a reduction in the GST in the Spending budget to spur the use of crop protection substances by farmers in the state.

The Pesticide Brands & Formulators Affiliation of India (PMFAI) has suggested minimizing GST on pesticides to 5 per cent from the present eighteen per cent in line with other agri inputs this kind of as seeds and fertilisers.

PMFAI is an marketplace entire body consisting of around two hundred modest, medium and substantial scale domestic pesticide manufacturers, formulators and traders.

Raise duty drawback to boost exports

Even more, PMFAI has also designed a pitch for increasing duty drawback on exports of pesticides to thirteen per cent from the recent two per cent. Also, it has suggested an improve in customs duty on imports of completed pesticide formulations or substances to a bare minimum of 30 per cent and on complex quality products

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