Sugar trade to pick up; prices not to rise: Govt
1 July 2017 4:20 PM GMT
Sugar supplies and prices in the retail and wholesale markets will not be affected by the initial teething problems that traders may face in the coming days due to GST, a senior government official said on Saturday.
The government is keeping a close watch on the situation as more sugar traders take up the registration number of Goods and Services Tax (GST) which comes into effect from today.
The GST on sugar is five per cent. It is not applicable on traders whose business turnover is below Rs 20 lakh. "Post-GST, sugar trade will definitely pick up. Traders will face teething problems initially, but those will be resolved. But the GST will not affect sugar supply in the market nor lead to increase in prices," the official said.
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