New Delhi, Sept. 4 -- The fisheries sector has received a major push under the latest GST reforms, in line with Prime Minister Narendra Modi's vision of making GST a truly "Good and Simple Tax" that supports every part of the economy.
Under the revised structure, GST on fish oils, fish extracts, and prepared or preserved fish and shrimp products has been reduced from 12 percent to 5 percent, making value-added seafood more affordable for domestic consumers and enhancing the competitiveness of India's seafood exports .
GST has been reduced to 5 percent from the earlier 12- 18 percent on Diesel engines, pumps, aerators, and sprinklers, essential for aquaculture operations and hatchery, significantly lowering operational costs for fish farme...