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Earlier, fish meal was exempted from central excise and VAT taxes throughout India. Now that GST has been introduced, threats are being given to get the tax paid. Sine 2 years, the total tax has become crores together. Bank accounts have been frozen thereby causing direct problem to the business, accuse the businessmen.
Tax on fish oil increased
Even before the implementation of GST, fish oil producers used to pay a tax of 5%. With the introduction of GST, the tax has been increased to 12%. The producers are paying the tax. Fish meal producers are announcing their sale reports every month. Since July 1st, 2017, pressure is being put for the paying of fish meal tax at the rate of 5%.
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The Union government has decided to levy the tax even after the State government sent notes to the GST Council to exempt fish meal from GST.
All India Fish Meal and Oil Manufacturers and Merchants Association president Khader HK said, the businessmen have not collected any tax from the consumers.