New Delhi/Jaisalmer, Dec 21 (IANS) Ready-to-eat popcorn is set to attract varying GST rates based on its preparation and packaging, it was decided in the 55th GST Council meeting on Saturday.
For popcorn (mixed with salt and spices), it retains the essential character of ‘namkeens’. It means a GST of 5 per cent applies if it is supplied loose or unpackaged, while 12 per cent GST will kick in for pre-packaged and labelled popcorn.
However, caramel popcorn and similar offerings will attract a higher 18 per cent GST, according to people in the know.
On fortified rice kernels (FRK), the Council proposed reducing the GST rate from 18 per cent to 5 per cent, irrespective of their end use.
In the construction sector, the Council provided relief to manufacturers of Autoclaved Aerated Concrete (ACC) blocks. ACC blocks containing more than 50 per cent fly ash content will now fall under ‘HS 6815’ and attract 12 per cent GST, instead of the higher 18 per cent.
Moreover, the GST council meeting, chaired by Union Finance Minister Nirmala Sitharaman, approved the increase in rate on sale of old and used cars including EV by businesses, to 18 per cent from 12 per cent. This will, however, not apply to the sale and purchase of such vehicles by individuals.
At the moment, all old and used vehicles, including EVs (other than petrol vehicles of engine capacity of 1,200 cc or more and of length of 4,000 mm or more, diesel vehicles of engine capacity of 1,500 cc or more and of length of 4,000 mm and SUVs) attract 12 per cent GST.
The Council also clarified that transactions involving vouchers will be treated as neither a supply of goods nor services and, therefore, will not face taxation.
The GST Council meeting was attended by Union Minister of State for Finance, Pankaj Chaudhary, along with Chief Ministers of Goa, Haryana, Jammu and Kashmir, Meghalaya, and Odisha, as well as Deputy Chief Ministers from Arunachal Pradesh, Bihar, Madhya Pradesh, Rajasthan, and Telangana.
Senior officials from the Finance Ministry, including those from the Economic Affairs and Expenditure Departments, were also present.
–IANS
na/pgh
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
