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Traders crushing cotton seeds in Haryana will be able to get a license by paying a one-time tax of Rs 42000 per unit of expeller. Tax review will be done again after three years.
The Haryana government has given a gift to the traders engaged in the work of cotton crushing. Now traders doing this work i.e. operators of cottonseed oil mills will be able to get crushing license by paying one time tax. This will increase business in the state and the government will also get revenue. The Chief Minister informed about this after meeting in Chandigarh with the officials of Indian Board of Trade and Haryana Oil Mills Association. On this occasion many officials including Agriculture and Farmers Welfare Minister JP Dalal, Additional Principal Secretary Ashima Brar and Marketing Board Chief Administrator TL Satya Prakash were present. In the meeting chaired by the Chief Minister, it was decided that now traders crushing cotton seeds will be able to get license by paying a one-time tax of Rs 42000 per unit of expeller.
For this, traders will pay this tax in every financial year. This decision will be applicable for three years. After this the tax will be reviewed again. That is, after three years, it can be considered to increase or decrease it. The Chief Minister said that it is mandatory to fill L-1 form for the cotton unit crushing by bringing it from outside. Now with this decision, L-1 form will not have to be filled.
Haryana has 453 cottonseed crushing units
Cotton seed is called cottonseed. In this way, the government will get a revenue of Rs 42000 per expeller unit as processing fee of Binola Oil Mills. There are about 453 crushing units and 1520 expeller units in the state. Haryana is one of the major cotton producing states. Therefore, cottonseed oil mills have also been installed here on a large scale. Now the government has made a strategy to collect revenue from them. At present, the officials of the Indian Board of Trade expressed happiness over this decision. In the meeting, many officials including State President of Indian Board of Trade Ram Avtar Tayal, Chairman Vikas Agarwal, Deputy President Rajesh Chaudhary, Rajesh Bansal, Subhash Bansal and Gajanand were present.
where is more production
Shankar Thakkar, an expert in the edible oil industry, says that the highest production and consumption of cottonseed oil is in Gujarat. Apart from this, production is also done in Haryana, Punjab, Maharashtra and MP. At present, the price of 10 kg of cottonseed oil is between Rs 1580 to Rs 1600. Right now the record price of cotton is going on, so the price of cottonseed oil is more than mustard and palm oil. Wherever there is more production of cotton, there is also a lot of production of its oil. For this, traders have installed crushing units.
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