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Maharashtra to punish traders who buy farm produce below MSP

MUMBAI: A day after the Union Budget proposed to peg the Minimum Support Price (MSP) for all notified kharif crops at 1.5 times the cost of production, the Maharashtra government said it would make it an offence for traders to buy farm produce at lower prices. A day after the Union Budget proposed to peg the Minimum Support Price (MSP) for all notified kharif crops at 1.5 times the cost of production, the Maharashtra government said it would make it an offence for traders to buy farm produce at lower […]

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No GST on support services to farmers: Finance Ministry

The finance ministry today clarified that renting or leasing of land by farmers for agriculture, forestry, fishing or animal husbandry is exempt from the GST. Clarifying on the applicability of GST on farmers, the ministry said support services to agriculture, forestry, fishing or animal husbandry are exempt from the Goods and Services Tax (GST). Exempted support services to agriculture include renting or leasing of vacant land with or without a structure incidental to its use Thus, renting or leasing of land by farmers for agriculture, forestry, fishing or animal husbandry […]

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