Ghee-Butter Prices: The common man who is troubled by the skyrocketing prices of tomatoes and green vegetables may get news of relief in the coming days. The news comes just as the festive season is about to begin. Ghee and butter prices are likely to drop significantly in the coming days. Both of these are used in every home during the festive season.
Currently it is taxed like this
The government is going to propose to reduce the GST rates on goods and services tax i.e. ghee and butter. According to a report in Mint, the government may soon bring such a proposal. Currently, GST is levied on both ghee and butter at the rate of 12 percent each. The Central Government may propose to reduce it to 5-5 per cent.
The joy of festivals will increase
If it is implemented, the common people can get a big relief. The festive season is about to begin in the country, which will continue till the end of December. During the festive season, every household prepares a variety of sweets and food items, in which ghee and butter are used in abundance. In this situation, if its prices come down, the fun of festivals will increase for the common people.
The common man suffers from inflation
This development is also important because the general public is already suffering from inflation. The retail inflation rate remained high for almost one and a half years. It was starting to get under control as the prices of tomatoes and green vegetables went up in flames. On the other hand, the price of milk is increasing continuously. Milk has become expensive by 10.1 percent in the last one year and 21.9 percent in three years. Due to which the common people’s kitchen budget has also deteriorated.
This department requested
According to Mint news, the Department of Animal Husbandry and Dairying has requested to reduce GST on ghee and butter. The department has asked the Finance Ministry to submit a proposal in this regard before the GST Fitment Committee. The proposal can then be placed before the GST Council, which is the apex body to decide on changes in rates in the GST slab.
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