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of <h1>India Cuts IGST Rates on Fertilizers to 5% Starting July 1, 2017, Easing Tax Burden for Farmers.</h1> The Government of India, through the Ministry of Finance, issued a notification to amend the Integrated Goods and Services Tax (IGST) rates on fertilizers. Effective July 1, 2017, the Central and Union Territory Tax rates on fertilizers are reduced from 6% to 2.5%, and the IGST rate is reduced from 12% to 5%. The amendments include adding specific serial numbers for mineral or chemical fertilizers in Schedule I at a 5% rate and omitting certain entries in Schedule II at a 12% rate. This change aims to lower the tax burden on fertilizers.
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