Domestic processed fish sales to get push with 5% GST

Earlier, processed fish suffered 12.5% levy; with rate reduction market will become more organised

The roll-out of the Goods and Services Tax (GST) is likely to encourage sale of processed fish in the domestic market, which is largely unorganised.

About 95 per cent of the domestic fish market, which is estimated to be Rs 1 lakh crore, is unorganised.

“Earlier there were higher levies of around 12.5 per cent on processed fish. Now it has been brought under the slab of five per cent and may open up opportunities for the processed fish market,” said Tara Patnaik, chairman of Falcon Marine Exports, the country's largest seafood exporter.

Fish falls under Chapter 3 of GST