Micro-fertiliser industry demands 5% uniform GST, faster refunds before Budget

• The Indian Micro-Fertilizers Manufacturers Association seeks a uniform 5% GST on all FCO-notified fertilisers.
• Industry faces an inverted duty structure, leading to accumulated input tax credit and locked working capital.
• Association urges a clear, time-bound mechanism for quick refunds of excess GST credits to ease working capital stress.
• A common GST rate aims to ensure a level playing field, prevent classification disputes, and promote innovation.
• The industry also proposes 'One Nation, One Licence' for a centralised digital repository to streamline licensing.

Why It Matters: Micro-fertiliser industry seeks uniform 5% GST, faster credit refunds, and 'One Nation, One Licence' before Budget.