CAIT urges Govt to exempt food items with registered trademark from GST
The Dollar Business Bureau Traders' body Confederation of All India Traders (CAIT) on Tuesday urged the Government for exempting branded as well as non-branded food commodities with registered trade mark, from the Goods and Services Tax (GST). The traders' body reasoned that the differentiation made by the GST Council for levying 5% tax on branded food items with a registered trademark will promote adulteration and result in lower remunerative prices for farmers even for high quality produce. In a letter to Finance Minister Arun Jaitley, CAIT said, “Under the pretext of 'branded' products, these items have been made taxable at 5% which will prove to be detrimental and in contradiction of the intention of the government.” CAIT further said that small firms who are manufacturing food grains, pulses and other ...
Indias meat exports stood at Rs 22,074 cr in April-January of FY'17
The Dollar Business Bureau India exported around nearly 11 lakh tonnes of meat for Rs 22,074 crore in the period between April and January in the financial year of 2017, informed Minister of Commerce and Industry Nirmala Sitharaman in a written reply to the Lok Sabha. As per the data, India’s meat exports stood at Rs 27,610 crore in the financial year of 2015-16 followed by Rs 30,201 crore and Rs 27,720 crore of exports in 2014-15 and in 2013-14 respectively. At present, India has as many as 81 companies involved in meat processing and its exports. These organisations need to be registered with the Agricultural and Processed Food Products Export Development Authority (APEDA) as per the current foreign trade policy. An inter-ministerial ...
WTO aims to protect consumers from polluted food
The Dollar Business Bureau The 65th meeting of the World Trade Organization (WTO) conference in Geneva had provided an outreach on FDA’s new food safety regulations. The aim was to protect consumers from polluted food - a global concern as well as key FDA priority. The WTO’s Committee for Sanitary and Phytosanitary Measures (SPS) is an important body that provides an opportunity for the discussion of food safety and animal and plant health issues that affect the international food trade. During the conference, the WTO also focused on sharing information about the FDA Food Safety Modernisation Act (FSMA) rules which would ensure the safety of foods exported to the United States. Three new FSMA rules included information about produce ...
Instant food and beverage makers review product safety following Maggi furore
Sisir Pradhan | The Dollar Business Many instant food and beverage makers in the country are in self-assessment mode, since Food Safety and Standards Authority of India (FSSAI) issued a statutory notification on June 5, 2015 on Nestle India. The notification said that Nestle India has released its Maggie Oats Masala Noodles with Tastemaker in the market, without having due risk and safety assessment of the product from the food safety regulatory body. While Kolkata-based ITC Ltd has issued a public notice that its Sunfeast Yippee noodles are safe for consumption on June 12, global coffee major Starbucks has gone a step ahead and has voluntarily stopped use of some ingredients till it gets clearance from the regulatory authority. Avani Davda, ...
