GST Council Meet Clarifies Tax On Popcorn; Tax Hiked On Used Automobile Gross sales Together with EV- Main points Right here

New Delhi: The fifty fifth GST Council assembly, chaired through Finance Minister Nirmala Sitharaman in Rajasthan, has rolled out an important adjustments to the taxation framework. Consistent with the file, ready-to-eat popcorn is about to draw various GST charges in response to its preparation and packaging, as determined within the fifty fifth GST Council assembly on Saturday. 

GST Replace On Popcorn 

For popcorn (combined with salt and spices), it keeps the crucial persona of ‘namkeens’. It approach a GST of five in line with cent applies whether it is provided free or unpackaged, whilst 12 in line with cent GST will kick in for pre-packaged and labelled popcorn. On the other hand, caramel popcorn and an identical choices will draw in a better 18 in line with cent GST, consistent with folks within the know.

Proposed GST Lower For Fortified Rice Kernels

On fortified rice kernels (FRK), the Council proposed lowering the GST fee from 18 in line with cent to five in line with cent, regardless of their finish use.

Reduction For ACC Block Producers 

Within the building sector, the Council supplied aid to producers of Autoclaved Aerated Concrete (ACC) blocks. ACC blocks containing greater than 50 in line with cent fly ash content material will now fall beneath ‘HS 6815’ and draw in 12 in line with cent GST, as a substitute of the upper 18 in line with cent.

GST Hike On Sale Of Used And Outdated Automobiles

Additionally, the GST council assembly has licensed the rise in fee on sale of previous and used vehicles together with EV through companies, to 18 in line with cent from 12 in line with cent. This may occasionally, on the other hand, now not observe to the sale and buy of such cars through folks.

Nowadays, all previous and used cars, together with EVs (rather than petrol cars of engine capability of one,200 cc or extra and of period of four,000 mm or extra, diesel cars of engine capability of one,500 cc or extra and of period of four,000 mm and SUVs) draw in 12 in line with cent GST.

No GST On Vouchers: 

The Council additionally clarified that transactions involving vouchers can be handled as neither a provide of products nor services and products and, due to this fact, won’t face taxation.

The GST Council assembly was once attended through Union Minister of State for Finance, Pankaj Chaudhary, at the side of Leader Ministers of Goa, Haryana, Jammu and Kashmir, Meghalaya, and Odisha, in addition to Deputy Leader Ministers from Arunachal Pradesh, Bihar, Madhya Pradesh, Rajasthan, and Telangana.

Senior officers from the Finance Ministry, together with the ones from the Financial Affairs and Expenditure Departments, had been additionally provide. (With IANS Inputs)