Biscuits eaten mostly by poor: IBMA
The Indian Biscuit Manufacturers’ Association has required a discount in the GST rate on biscuits to 12% from the current 18%, fighting that biscuits are mass use items that are generally eaten up by poor people.
“Biscuit producers, particularly in the SME segment, are hard hit in light of unjustified burden of Goods and Services Tax (GST) at a high rate of 18%,” the IBMA said in a discharge. “The growth in the business has begun to stagnate since the inconvenience of the 18% GST and there is dire need to cut down GST rate to 12%.”
“Biscuits are a common item of utilization from a rickshaw puller to a low-wage worker looking for cleanliness, nutrition, energy easily,” B.P. Agarwal, leader of IBMA said at a press conference.
Similar food products are liable to bring down GST rates, for example, desserts, prepared dry natural products, tea, namkeen, juice, stick, pasta, noodles, tomato ketchup while GST at 18% is forced on biscuits,” Mr. Agarwal included.
The Goods and Services Tax Council will next meet on January 18.