GST On Articles by Cooperative Societies; Ministry of Cooperation
Since its inception on 6th July 2021, it is endevaour of Ministry of Cooperation to encourage states/UTs & cooperative societies to submit their proposals including those related to tax, which are not in parity with the benefits available to other business entities. In this regard, a memorandum dated 25.11.2024 from Minister of Cooperation, Tamil Nadu was received seeking, inter-alia, GST exemption for cooperative products and services of the cooperative societies. The proposal related to GST are examined by GST Council (a constitutional body). Recently the GST on molasses was reduced from 28% to 5% which will benefit Cooperative Sugar Mills. Details of tax relief/benefits provided to cooperatives are at ANNEXURE I.
