GST Council: Kerala to oppose move to increase tax on coconut oil

Kerala will oppose the move to increase the tax on coconut oil as it will affect the interests of the people of the state, official sources said here on Thursday.

State Finance Minister K N Balagopal, who has already reached Lucknow to attend the GST council meeting commencing on Friday, will raise the matter in the meeting to be chaired by Union Finance Minister Nirmala Sitharaman, they said.

The sources said that there was a move in the GST council to increase the tax of coconut oil from the present 5 percent to 18 percent.

According to them, a hike in the tax on coconut oil will pave the way for the rise in the prices of coconut oil, which is the major edible oil item in Kerala and parts of Tamil Nadu and Karnataka.

Sources said Kerala will strongly oppose the GST council its move to increase the tax of coconut oil as it is against the interest of the people of the state.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)