Traders and processors are now hoping for clarity at GST Council meeting on Oct 7, with the industry seeking a uniform tax treatment for psyllium seed. Ahmedabad: Trading in isabgol (psyllium husk) at Unjha APMC, Asia’s largest isabgol market, has resumed partially after remaining suspended for more than two months amid conflicting GST rulings in Gujarat and Rajasthan .
“Since five odd-days, barely 20% of the traders have begun trading, albeit cautiously. Trading was halted on July 26 after Gujarat’s Authority for Advance Ruling (GAAR) classified raw, unprocessed seed procured directly from farmers through APMC auctions as ‘fresh’ and exempt from GST in May. Rajasthan’s AAR later held that seed stored in mandis or warehouses could be treated as dried and attract 5% GST. India exports around 90% of its isabgol output to the US and Europe, making uninterrupted supplies critical.
Because of the fear of tax scrutiny,” said an isabgol processor, requesting anonymity, those who have GST-paid stocks from Rajasthan are refusing to trade as of now. The divergent rulings left traders handling Rajasthan-origin stock worried about possible tax demands, disrupting raw-material supplies to processors. The industry has sought a common tax treatment to avoid retrospective liabilities and facilitate interstate trade. You Can Also Check: Gold Rate in Ahmedabad | Silver Rate in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Ahmedabad AQI | Weather in Ahmedabad | Petrol Price in Ahmedabad | Diesel Price in Ahmedabad | CNG Price in Ahmedabad | LPG Price in Ahmedabad