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Food Ministry suggests imposition of 5% GST on oil-free rice bran

New Delhi, May 4 (PTI) The Food Ministry has suggested imposition of five per cent Goods and Services Tax (GST) on oil-free rice bran to discourage the use of oil-free rice bran, Food Secretary Sundhashu Pandey said on Wednesday.

“We have written a letter to the Finance Ministry to levy five per cent GST (Goods and Services Tax) on oil-free rice bran,” Pandey said at a press conference.

At present, around five per cent GST is levied on rice bran (before oil extraction) and crude rice bran oil.

Pandey said the imposition of GST on oil-free rice husks would discourage direct selling to fodder companies and the product would be available for oil extraction.

He said that a decision in this regard would be taken in the GST Council.

The country needs to increase domestic production of rice bran oil amid increasing dependence on edible oil imports.

Regarding the rising prices of edible oil, the Secretary said that the government has taken it seriously and ‘Oil Palm Mission’ has been started to increase the production at the local level.

“We cannot solve the problem of edible oil overnight. The reason for this is supply has been affected from some areas.

Pandey said the recent ban on export of palm oil by Indonesia has affected the entire market. But India’s supply will not be affected as the country has 40 to 50 days of stock.

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