Rice sold in bags above 25 kg may attract GST, retail prices likely to be affected

One may be need to pay more for rice sold in loose quantities greater than 25 kg as it is not classified as an ‘agricultural farm produce.’ This may be possible because of the latest circular issued by the Central Board of Indirect Taxes & Customs (CBIC) based on recommendations of the GST Council. Meanwhile., a senior CBIC official told businessline: “This interpretation see…