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LatestIncome Tax 15 October 2026

GST Council Cuts Boost Indian Farmers and Tractor Tyres

The GST Council has lowered several taxes to ease costs for Indian farmers. Retreaded tractor tyres now attract a 5% GST rate, matching new tyres, while seed storage receives a tax exemption. The cuts aim to reduce input expenses.
  • 5% GST on retreaded tractor tyres, now aligned with new tyres.
  • Tax exemption for seed storage facilities.
  • Expected to lower farm input costs and improve profitability.

Read the full story on Mint.

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