The Agriculture Produce Market Committees (APMCs) and the HP State Agricultural Marketing Board (HPSAMB) have been included in the exemption list of institutions in the seventh schedule of direct tax code bill-2009.
This was stated today by a spokesman of the state’s agriculture department after the state government took up the matter recently with union finance ministry. The seventh schedule provides for exemptions of income, this would help these grassroot organisations in consolidating their position and help farmers in providing them better facilities.
The spokesman said HPSAMBs are not carrying our trading, merchandising, processing, buying or selling units which are managed by local authorities.
They collect a market fee of 1 per cent on sale/purchase of the produce which is used for the development of marketing infrastructure in their areas. The expenditure of market committees and boards is incurred to provide facilities at focal points near the producing areas, the spokesman added.
