Fertilizers to come under 12% tax slab, prices likely to rise

  India’s landmark tax reform, the goods and services tax (GST), may not be good news for farmers. Retail prices of commonly used fertilizers and micronutrients are likely to increase, not only raising the cost of cultivation but also leading to imbalanced use of fertilizers. Last week, the GST Council fixed a 12% rate on fertilizers, up from the current 4-8% rates, depending on raw materials…