CosmicTaco

GST Council Clarifies Popcorn Tax Rates

CosmicTaco · 2024-12-21T22:03:09.759071+05:30

- The GST Council, led by Finance Minister Nirmala Sitharaman, clarified the tax treatment of popcorn. Pre-packed and labelled ready-to-eat popcorn will attract 12% GST, while caramelised popcorn will be taxed at 18%. - The Council proposed reducing GST on fortified rice kernels to 5% and provided relief to ACC block manufacturers by lowering GST to 12%. - GST on the sale of old and used cars by businesses will increase to 18%, but no GST will apply to voucher transactions. Source: [The Economic Times](https://economictimes.indiatimes.com/news/economy/policy/caramelised-popcorns-sweetness-in-jeopardy-sitharamans-gst-clarification-adds-a-tangy-twist/articleshow/116541132.cms), [Zee News](https://zeenews.india.com/economy/gst-council-clarifies-tax-on-popcorn-tax-hiked-on-used-car-sales-including-ev-reportedly-read-2834417.html)

The GST Council, led by Finance Minister Nirmala Sitharaman, clarified the tax treatment of popcorn. Pre-packed and labelled ready-to-eat popcorn will attract 12% GST, while caramelised popcorn will be taxed at 18%.
The Council proposed reducing GST on fortified rice kernels to 5% and provided relief to ACC block manufacturers by lowering GST to 12%.
GST on the sale of old and used cars by businesses will increase to 18%, but no GST will apply to voucher transactions.

Source: The Economic Times, Zee News