GST Council issues clarification on proposal of taxation on popcorn

Q: How long will it take to read this news story?

The story "GST Council issues clarification on proposal of taxation on popcorn" has 226 words across 7 sentences, which will take approximately 1 - 2 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "GST Council issues clarification on proposal of taxation on popcorn" was covered 14 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 120 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #24575076</li><li>URL: https://beamstart.com/news/gst-council-issues-clarification-on-17347871005327</li></ul>

Business Standard Logo Business Standard 14h ago

GST Council issues clarification on proposal of taxation on popcorn - Business Standard

Quick Summary:

GST Council on Saturday agreed to issue 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.

"Ready-to-eat popcorn", which is mixed with salt and spices, and has the essential character of namkeens currently attracts a 5 per cent GST if it is not pre-packaged and labelled.

There is no change in the tax rate of popcorn and the GST Council has only agreed that the Central Board of Indirect Taxes and Customs (CBIC) will issue a circular clarifying the current taxation regime of popcorn.