GST Council may exempt seed storage, cut tractor tire tax: Report

The GST Council, meeting on October 8, is likely to exempt storage and warehousing of sowing seeds from GST and reduce tax on retreaded tractor tires from 18% to 5%, Moneycontrol reported. It may also create a nil-rate entry for psyllium seeds and impose 5% GST on seaweed-based bio-stimulants to ease agriculture sector tax burden.