GST COUNCIL PRUNING EXEMPTIONS ON MASS PRODUCTS LIKE PANEER, CURD, MILLETS.

The mass products such as curd, milk, paneer, rice, oats and millets are a part of every households basic staple diet. Likely, until now such goods of basic routine consumption had been exempted from levy of GST . 

However, the all powerful GST Council in its meeting on 28th June 2022, chaired by Union Finance Minister Nirmala Sitaraman has reviewed the current GST exemption for packed and labelled food items . 

As a consequence of discussion and exchange of diverse views , the pre- packed packaged labelled meat ,fish, curd, paneer, and honey, dried leguminous vegetables, dried fox nut, jaggery & other cereals  will now be subject to a GST of 5% . 

This will ultimately result in reducing the purchasing power of the common man as GST , being an indirect tax is borne by the ultimate consumer making consumption.