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Wednesday, 19 July 2017

Continuing their Tuesday’s upward run, rice stocks were buzzing in the early morning trade on Wednesday, on the BSE. KRBL Ltd. was the top gainer and was trading up by 6.40% at Rs 466.25.

KRBL’s India Gate basmati rice is not registered as a brand, hence it does not fall under the GST ambit, said the company in an interaction with media.

Meanwhile, Kohinoor Foods Ltd. was trading at Rs 77.35, up by Rs 2.50 or 3.34% and LT Foods Ltd. was trading at Rs 71.90, up by Rs 1.35 or 1.91% as at 1031 hours on Wednesday, on the BSE.

Earlier, Basmati Rice was subject to VAT or was tax-free in some of the states, however, it has now been included under the branded cereals category and therefore subject to 5% GST.

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