Ponda: The Goods and Services Tax Council's decision to reduce their GST from 18% to 12%, has given the Goa Cashew Manufacturers' Association reason to cheer. They are now hopeful that this move will boost the cashew business in the state.
Speaking to reporters, the association's president, Madhav Sahakari, said that the lowering of GST would also result in lower procurement rates and would help them control the rates of cashew kernels. "Goa has nearly 40 cashew nut processing units, including 22 large industries, which need about 20,000 to 22,000 tonnes raw cashew seeds every year. The lower GST rate will have an effect on bulk procurement rates, which will in turn enable us to keep the prices of cashew nuts low, too. tnn