When the Indian Government introduced the GST in 2017. That time the refrigeration equipment which come under HSN Code 8418 was under 28 % GST slab. As a result lot of our customer felt equipment is costly and they cannot afford it. As lot of cold chain equipment also come under this code, the cost of establishment of cold chain has increased and some of the people including farmer cannot afford to established the cold chain. Hence, RATA has given the proposal to GST commissioner of many state to decrease the GST Rate of HSN code 8418, So that cost of refrigeration and cold chain equipment has been decreased and it will be benefit to food, dairy and agriculture processing industries and which ultimately benefit to farmer. All the GST commissioner agreed on this and in the GST council meeting of JULY 2018 it was decided to decrease the GST rate from 28 % to 18 % of all the product which come under HSN code 8418. As a Result the Refrigeration and cold chain equipment become cheaper. Thanks RATA for this initiation and it will help the refrigeration and cold chain industries as a whole.
- synergy agro tech pvt ltd