{"id":35460,"date":"2018-10-31T17:41:36","date_gmt":"2018-10-31T12:11:36","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=35460"},"modified":"2018-10-31T17:41:36","modified_gmt":"2018-10-31T12:11:36","slug":"gst-may-hit-natural-rubber-prices-hard","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/gst-may-hit-natural-rubber-prices-hard\/","title":{"rendered":"\u2018GST may hit natural rubber prices hard\u2019:\u00a0"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-business\/gst-may-hit-natural-rubber-prices-hard\/article19549317.ece\"><span style=\"font-weight: 400;\">\u2018GST may hit natural rubber prices hard\u2019<\/span><\/a><span style=\"font-weight: 400;\">:\u00a0<\/span><\/p>\n<p><b>Context<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The lack of demand from micro and small industries due to ambiguity on Goods and Services Tax (GST), prices of natural rubber are likely to decline in the coming months.<\/span><\/li>\n<\/ul>\n<p><b>The dipping prices of rubber<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The price has dipped from Rs. 143 per kg in April this year to Rs. 129-130 per kg.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">This price drop may accentuate in the months of October and November, which is the peak production season.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Imports still linger despite the low prices of domestic material, weakening the domestic demand and prices.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Entering into a growing season with abundant local material available to the consuming industry, suitable policies need to be brought in to restrict imports during these high cropping months to improve prices and prevent melt down of this strategic industry.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">There are some input materials which have gone into the bracket of higher taxation, adversely affecting the grower and increasing the cost of production.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Some examples are plastic shells for tapping, fungicides, sheet rollers and other processing equipment and this needs to be reviewed and corrected.<\/span><\/li>\n<\/ul>\n<p><b>Challenges<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The non-tyre industry, which comprises micro and very small business, has been adversely affected due to factors such as size, turnover and capacity to weather the implication of the new regulations.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Most in the industry have very low turnover and are not registered under GST, which provides for exemption as unregistered producer.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">An unregistered producer has disadvantages in terms of claiming refund on taxes paid as well as dealing with buyers who will have to discharge the tax liability incurred for the grower.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">This has led to lack of demand from thousands of these small industries which are struggling to cope up with the new ways (GST) of doing business.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Though GST recognises unregistered buyers, rubber buying and trading mandates licence as per the Rubber Act.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u2018GST may hit natural rubber prices hard\u2019:\u00a0 Context The lack of demand from micro and small industries due to ambiguity on Goods and Services Tax (GST), prices of natural rubber are likely to decline in the coming months. The dipping prices of rubber The price has dipped from Rs. 143 per kg in April this&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/gst-may-hit-natural-rubber-prices-hard\/\">Continue reading <span class=\"screen-reader-text\">\u2018GST may hit natural rubber prices hard\u2019:\u00a0<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-35460","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704842669},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/35460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=35460"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/35460\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=35460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=35460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=35460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}