Hatsun Agro terms GST reforms in the dairy sector transformative, innovative

Chennai, Sep 5 (PTI) Dairy products maker Hatsun Agro Products Ltd termed the slash in GST rates for the sector as transformative and innovative and a uniform tax slab across branded and unbranded products ensures a level playing field.

The city-based company said the lower GST rates across key dairy categories would improve affordability, ensure fair competition and strengthen rural income.

Hatsun Agro Product Ltd Chairman R G Chandramogan said, "This is an unprecedented and visionary reform. For the dairy industry, the reduction of GST across key categories including milk products and ice cream is truly a blessing." "We anticipated good rains but what we received is a cloud buster for the sector and the economy," he said in a press release on Friday.

Highlighting some of the key benefits of the GST reforms, the company said, "packaged dairy products would become more affordable and accessible. The better prices for milk would benefit several crore farmers and would strengthen the rural economy in a significant way." Chandramogan said, "This tremendous initiative would further India's progress from being an importer of dairy and value-added foods to becoming a global exporter." "It strengthens farmers, empowers consumers with affordable nutrition and reinforces the formal and transparent supply chain. Hatsun Agro Product Ltd reaffirms its commitment to carry this vision forward by serving India with safe, trusted and high-quality dairy products," he added.

The GST reforms also help reduce adulteration, market manipulation and ensure quality products reach consumers, the company said. PTI VIJ VIJ ADB