The Solvent Extractor’s Association of India (SEA) has quoted the section of Corrigendum of Government of India, Ministry of Finance, Department of Revenue dated 28th June 2017, that confirms GST Rate for Rice Bran as 5%. “This is the information so far from the government although representations are being made from various concerning associations including SEA to the GST Council for further clarity on the subject,” said an official of SEA.
Mr. Sushil Jain, MD Veer Overseas Ltd., also made the similar statement regarding GST of 5% on Rice Bran. He explained that burden of tax on food items would eventually be passed off to the public at large and therefore would be inflationary in nature. Mr. Jain stressed that various rice associations are putting up their representations with the Ministry of Finance to request the zero brackets for GST for food items, particularly concerning rice.
This information is being shared for the benefit of our readers, related to the rice trade and who are in doubt regarding the GST implications on rice bran. Following is the corrigendum put out by SEA to one of its members.