55th GST Council Meeting: Key Changes to Tax Rates on Popcorn ...
Dec 26, 2024 · The 55th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Nirmala Sitharaman in Jaisalmer, Rajasthan, on December 21, 2024. The GST Council was against the backdrop of speculation related to the new tax rate and rationalization. GST on Popcorn The GST Council has clarified that ready-to-eat popcorn which is mixed with salt and spices is classifiable ...
GST Council's popcorn taxation sparks backlash on social media
The GST Council's proposal of different rates on popcorn—5% for salted, 12% for branded, and 18% for caramel—has sparked widespread criticism. Former economic advisers slammed the decision's ...
GST on popcorn: Know how much tax your movie-time snack will …
Dec 25, 2024 · Popcorn sold loose in cinemas will continue to be taxed at a 5% GST rate, the same as restaurant services, reported news agency PTI citing government sources. However, if popcorn is bundled with a movie ticket, it will be treated as a composite supply.
GST on popcorn decoded: How much tax will you pay for the …
Dec 25, 2024 · The tax treatment of popcorn has become a huge political hot potato after the (GST) Council Meeting, led by Finance Minister Nirmala Sitharaman, notified different taxation rates on salted and ...
EXPLAINED | Understanding The GST Council’s New Popcorn
Dec 24, 2024 · The GST Council’s decision to tax popcorn differently based on sugar and spice content has ignited a significant debate, with critics arguing that it complicates an already convoluted tax...
How to tax popcorn? GST council’s formula sparks outrage
Dec 23, 2024 · The Goods and Services Tax (GST) Council, chaired by the Finance Minister and including State representatives, announced on Saturday (December 21, 2024) that non-branded popcorn mixed with salt ...
Popcorn Taxation: 5% GST if not pre-packaged or labelled, 12% if ...
Dec 23, 2024 · Finance minister Nirmala Sitharaman chairs 55th GST Council meeting in Jaisalmer on Sunday JAISALMER: GST Council on Saturday issued a clarification on taxation of popcorn, saying that pre-packed and labelled ready-to-eat snacks will attract a 12 per cent tax while an 18 per cent GST will be levied if it is caramelised. There is no change in the tax rate of popcorn and the GST Council has only ...
As 18% GST debate on caramel popcorn continues, a look at the …
Dec 24, 2024 · Non-branded popcorn mixed with salt and spices will attract a 5% GST, pre-packaged and branded popcorn will fall under the 12% GST bracket, and caramel popcorn, categorised as sugar confectionery, will face the steepest rate of 18%.
GST Council clarifies tax on popcorn: 5% for ready-to-eat
Dec 21, 2024 · According to the clarification, ready-to-eat popcorn is taxed at 5%, pre-packaged popcorn is subject to a 12% GST, and caramel popcorn attract an 18% GST. The department believes that this classification will eliminate confusion around …
GST Council’s popcorn tax decision triggers meme fest, middle …
6 days ago · In contrast, pre-packaged and branded popcorn would be taxed at 12 per cent, while caramel popcorn, categorised as a sugar confectionery, would attract an 18 per cent GST.
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