The Union Finance Minister Nirmala Sitaraman presided over the 50th meeting of the GST Council today (11th July 2023) at Vigyan Bhawan in New Delhi including Revenue Secretary, CBIC chairman.
The council while responding to the question stated that the tax exemption on millet based products is deferred. It was informed that the fitment panel is still having discussions on that. The issue was also an agenda for the last GST council meeting.
Recently, it was reported that the classification of millet products and related rates are being worked on by a Goods and Services Tax (GST) fitment panel. The fitting panel, according to sources, was made up of officials from the Centre and states who would categorise products where millets are a main element.
The Union Finance Minister Niramala Sitharaman after the 49th GST Council Meeting stated that no decision was arrived at on the levy of millets. However the discussion is going on. Further, the Union government too is advocating for millet-based products to help increase farmers’ income.
Additionally, the FM claimed that it is planned to make India the core of millets in the Union Budget Speech of 2023. Currently, India is the second-biggest exporter of millets and the foremost producer of millets.
Furthermore, a typical millet-based health mix includes miniscule amounts of flour, groundnut powder, lentils, etc. that are roasted the same manner as millets. Insignificant amounts of other products, such cardamom and pepper, can be used for flavour. All of these goods are combined, ground, and packaged for sale.
However, the issue was still deferred by the GST Council and stated that the fitment committee is working on the same. It is anticipated that the decisions will be taken in the next GST council meet.
