FSII Applauds GST Cuts on Inputs, Calls for Seed Sector Reform

The Federation of Seed Industry of India (FSII) praised the GST Council's decision to reduce rates on agricultural inputs. However, FSII emphasized the need for similar tax reforms for the seed sector to reduce costs, enhance competitiveness, and ensure affordable access to seeds for farmers.

The Federation of Seed Industry of India (FSII) has welcomed the GST Council's decision to lower rates on key agricultural inputs. This move is expected to significantly reduce input costs, which the industry body believes will foster economic momentum in the agricultural sector.

Ajai Rana, FSII Chairman and CEO of Savannah Seeds, dubbed the decision as transformative, emphasizing its empowerment of farmers and its strengthening effect on the rural economy. While celebrating these changes, FSII has highlighted the need for similar reform in the seed sector.

Rana noted that exemptions currently deny the seed industry input tax credit benefits, leading to a higher tax burden. The organization urged the government to put all seed production inputs under minimum GST rates to reduce costs, boost competitiveness, and make seeds more affordable for farmers.