Source -timesofindia.com
The 50% reduction of basic customs duty on import of agricultural machinery from 5% to 2.5% in the Budget has been welcomed by the farm sector. Stakeholders, however, said the 5% value added tax (VAT) on spare parts at the state level should be dispensed with so as to boost mechanization.
Appreciating the . . . → Read More: Farmers get incentives to go for mechanization