Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Food ministry asks finance to lift GST refund limits on edible oil ITC, urges Council review next meeting</h1> The food ministry has forwarded the edible vegetable oil industry's request to the finance ministry seeking removal of GST refund restrictions on accumulated input tax credit (ITC) arising from an inverted duty structure imposed in July 2022, urging the GST Council to consider the matter at its next meeting. Industry bodies contend that restoring refunds-currently available for some dairy products but restricted for edible oils-would remedy substantial unutilised ITC, support SME viability, investment and price stability. Separately, the ministry has implemented a 2025 regulation requiring producers to register with the Directorate of Sugar and Vegetable Oils and file monthly production, sales, stock and purchase reports, with planned awareness and on-site registration drives.