India's rice exports are facing significant challenges as exporters confront a substantial tax demand, potentially jeopardizing the sector's viability. In a separate but related development, the Life Insurance Corporation of India (LIC) has received a GST demand notice of ₹ 39.39 Lakh, further highlighting the increasing tax pressures on major Indian entities. Another GST demand notice issued to LIC amounts to Rs 178 crore. Additionally, the introduction of the Carbon-Border Adjustment Mechanism (CBAM) by the European Union could exacerbate the situation for India's exports, including rice, by imposing additional tariffs of 20 to 35 percent upon its concrete implementation.
#India's rice #exports at risk as exporters face huge #tax demand-sources https://t.co/UPtKQZBW4U
STORY | LIC gets GST demand notice of Rs 178 crore READ: https://t.co/zUPqudNfJj https://t.co/Hq5loYSxJF
Landmark policies such as the #Carbon-Border Adjustment Mechanism (#CBAM) may further strain the #EU’s #exports to #India, giving an additional 20 to 35 percent #tariffs upon its concrete implementation, notes Dharmil Doshi https://t.co/uU3cEgNbBz
LIC Gets GST Demand Notice Of ₹ 39.39 Lakh https://t.co/vsftRhOMot
India's rice exports at risk after additional tax demand: Report #RiceExport #India https://t.co/fWOj91KacH