Congress slams govt over different tax slabs for popcorn, asks if PM will show courage for GST overhaul
Trending News
1 day, 2 hours ago

Congress slams govt over different tax slabs for popcorn, asks if PM will show courage for GST overhaul

The Hindu  

Exhorting the Narendra Modi government to show the courage to overhaul the Goods and Services Tax regime citing the “absurdity” of three different tax slabs for popcorn under the present system, the Congress on Sunday said the current complexities in the system had thrown open several loopholes leading to tax evasion. In a long post on X, Congress General Secretary Jairam Ramesh said, “The absurdity of three different tax slabs for popcorn under GST, which has unleashed a tsunami of memes on social media, only brings to light a deeper issue: the growing complexity of a system that was supposed to be a Good and Simple Tax.” These complexities, he said, were leading to significant GST invasion, input tax credit fraud was common, and the number of bogus companies set up to ‘game’ the GST system ran into thousands. He said the recent data on tax frauds uncovered by the Directorate General of GST Intelligence reveal GST evasion of ₹2.01 lakh crore in FY24. “With the Union Budget now just 40 days away, will the Prime Minister and the Finance Minister summon the courage to launch a complete overhaul and institute a GST 2.0?” Mr. Ramesh asked.

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History of this topic

Caramel Popcorn Contains Added Sugar, Tax Rate Will Be Higher Than Namkeen, Clarifies GST Council
7 hours, 21 minutes ago

Caramel Popcorn Contains Added Sugar, Tax Rate Will Be Higher Than Namkeen, Clarifies GST Council

Live Law  

The GST Council in its 55th Meeting chaired by Finance Minister Nirmala Sitharaman announced significant changes to the GST regime. Caramelised popcorn comes with added sugar therefore the tax rate for such a popcorn will be different from the Namkeen. It was further clarified that whether it is carbonated drink or juice with added sugar attracts a different tax rate. …

DC Edit | Rationalise GST in two slabs
19 hours, 23 minutes ago

DC Edit | Rationalise GST in two slabs

Deccan Chronicle  

The Goods and Services Tax Council meeting appears to have ended up as a no-event without taking any major decision. While on one hand the government advocates rationalisation of tax slabs, on the other, it proposed three different rates for popcorn based on its taste and packaging. Pre-packed and labelled salted and spicy, ready-to-eat popcorn will attract 12 per cent …

GST’s popcorn moment leaves everyone with bitter aftertaste
Top News
1 day, 14 hours ago

GST’s popcorn moment leaves everyone with bitter aftertaste

New Indian Express  

The 55th GST Council meeting ended without any significant announcements. While it is true that with every passing year, the GST—once hailed as a good and simple tax—is becoming more complex, one cannot deny that tax rules, beyond a point, cannot be simple, howsoever hard one may try. The issue of the tax rate of Malabar parotta is yet to …

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing
2 days ago

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing

The Hindu  

A much-anticipated review of the Goods and Services Tax levies on life and health insurance policies was put off by the apex body in charge of the indirect tax regime, the GST Council at its 55th meeting on Saturday, as some members sought more discussions on the matter before taking a final call. Moreover, rate rationalisation suggestions pertaining to about …

Retailers urge FM and GST Council not to go for higher 35 pc tax rate
1 week, 4 days ago

Retailers urge FM and GST Council not to go for higher 35 pc tax rate

Live Mint  

New Delhi, Dec 12 Indian Sellers Collective, an umbrella body of trade associations and sellers across the country, has urged the finance minister and the GST Council not to accept some of GST rate rationalisation suggestions, including the proposal for inclusion of a special rate of 35 per cent on some products. The sellers body is of the view that …

A fresh start: On the Goods and Services Tax Council meet
5 months, 3 weeks ago

A fresh start: On the Goods and Services Tax Council meet

The Hindu  

The Goods and Services Tax Council was convened last week for the first time in nearly nine months. Apart from several industry-specific measures, a few of which will kick in with retrospective effect, the Council also opted to waive interest and penalty on tax dues for the first three years of GST, provided they are paid by March 2025. Beyond …

GST on milk cans reduced from 18 percent to 12 percent, propagandists try to imply that a new tax has been introduced
6 months ago

GST on milk cans reduced from 18 percent to 12 percent, propagandists try to imply that a new tax has been introduced

Op India  

On Saturday, June 22, Goods and Services Tax Council meeting took place where several key decisions were taken by the council. The Council… pic.twitter.com/FfUvl1Gi3d — Nirmala Sitharaman Office June 22, 2024 Shortly after the decision was announced, a social media narrative started to subtly push the agenda that a new 12% tax has been introduced on milk cans by Modi …

Flour mixes with additives attract 18% GST, clarifies Gujarat appellate authority
6 months, 2 weeks ago

Flour mixes with additives attract 18% GST, clarifies Gujarat appellate authority

Live Mint  

New Delhi: The Gujarat Appellate Authority for Advance Ruling has clarified that flour mixes containing additives attract an 18% Goods and Services Tax as they fall under a class of food preparations for which a lower tax rate is not specified in the law. The ruling came in response to an application filed by a Gandhinagar-based company selling flour mixes …

GST Council Meet: Tax-levying power on ENA ceded to states; other key decisions
1 year, 2 months ago

GST Council Meet: Tax-levying power on ENA ceded to states; other key decisions

Live Mint  

The 52nd Goods and Services Tax Council meeting on Saturday, October 7, ceded the right to levy tax on extra neutral alcohol -supplied for the manufacture of alcoholic liquors - to the states. “ENA for human consumption will be exempt from GST and the same will be communicated to the Supreme Court,” Chhattisgarh Deputy Chief Minister T S Singh Deo …

GST Council Meet: Tax on millet flour preparation slashed to 5% from 28%
1 year, 2 months ago

GST Council Meet: Tax on millet flour preparation slashed to 5% from 28%

Live Mint  

The Goods and Services Tax Council on Saturday, October 7, decided to slash tax on millet flour food preparations from the current 18 per cent GST to 5 per cent, in an aim to make nutritious food items more accessible to the public. Addressing a post-meeting press conference, Finance Minister Nirmala Sitharaman said that the food preparation of millet flour …

Cheap popcorn, cola at cinema halls after GST Council slashes tax rates by 13%
1 year, 5 months ago

Cheap popcorn, cola at cinema halls after GST Council slashes tax rates by 13%

India Today  

In a delight for moviegoers, the Goods and Services Tax Council, headed by the Union finance minister and comprising representatives of all states and UTs, on Tuesday made munching at cinema halls easier on pockets by deciding to lower the service tax levied on food and beverages to 5% from 18%. Food and beverages are an important source of earnings …

Explained | What is the controversy over GST levies on food?
2 years, 4 months ago

Explained | What is the controversy over GST levies on food?

The Hindu  

The story so far: From July 18, a 5% Goods and Services Tax has been levied on several food items and grains that are sold in a pre-packed, labelled form even if they are not branded. The 5% tax on unbranded packed food items was approved by the GST Council in late June and was part of a broader set …

Decision on GST hike taken after all States’ consent: Nirmala Sitharaman
2 years, 5 months ago

Decision on GST hike taken after all States’ consent: Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on July 19 clarified the GST Council has exempted from Goods and Service Tax, all food items including wheat, pulses, rice, maize, when sold loose, and not pre-packed or pre-labelled. pic.twitter.com/U21L0dW8oG — Nirmala Sitharaman July 19, 2022 The Finance Minister explained the process of decision making on the GST rate changes for pre-packed and pre-labelled, unbranded …

These items are exempted from GST when sold loose. Check full list
2 years, 5 months ago

These items are exempted from GST when sold loose. Check full list

Hindustan Times  

The Goods and Services Tax Council on Tuesday exempted all items when sold loose and not pre-packed or pre-labelled, finance minister Nirmala Sitharaman said. “The @GST_Council has exempt from GST, all items specified below in the list, when sold loose, and not pre-packed or pre-labeled. The Goods and Services Tax Council on Tuesday exempted all items when sold loose and …

Explained | What is next on the agenda for the GST regime?
2 years, 5 months ago

Explained | What is next on the agenda for the GST regime?

The Hindu  

The story so far: The Goods and Services Tax Council, chaired by Union Finance Minister Nirmala Sitharaman, met for the first time in 2022 for a marathon two-day meet this week, just ahead of GST’s fifth birthday on July 1. Based on recommendations made by a Group of Ministers led by Karnataka Chief Minister Basavaraj Bommai, the GST Council has …

GST Meet Highlights: GoM Suggestions on GST Exemptions, Correction of Inverted Duty Accepted, Says FM
2 years, 5 months ago

GST Meet Highlights: GoM Suggestions on GST Exemptions, Correction of Inverted Duty Accepted, Says FM

News 18  

Finance minister Nirmala Sitharaman announced the outcome of the 47th Goods and Service Tax Council meeting on Wednesday. “Highlight of this meeting was that we could consider, discuss and decide on four Group of Ministers reports on exemptions, correction of inverted duty structure, finance minister,” said while announcing the outcome of the 47th GST meeting. The GST Council also decided …

GST new rates: Check full list of goods, services that get costlier, cheaper
2 years, 5 months ago

GST new rates: Check full list of goods, services that get costlier, cheaper

Live Mint  

The 47th GST council meeting was held under the chairmanship of Union finance minister Nirmala Sitharaman on Wednesday, during which, approval for changes in tax rates was given for several goods and services. Check what will get costlier in the coming month: Goods/Services Older rate New rate Printing, writing or drawing ink 12% 18% Knives, pencil sharpners, blades, forks, spoons, …

GST Council Likely To Discuss Changes In Tax Rates On 14 Items, Ease Compliance
2 years, 5 months ago

GST Council Likely To Discuss Changes In Tax Rates On 14 Items, Ease Compliance

News 18  

The GST Council, which is scheduled to meet next week in Chandigarh, is likely to discuss changes in tax rates on 14 items recommended by the Fitment Committee, according to a CNBC-TV18 report. The fitment panel, which comprises officers from the Centre and states, has recommended a hike in GST rate on cut and polished diamonds to 1.5 per cent …

Inflation delays GST rates rationalisation, Centre counters states
2 years, 6 months ago

Inflation delays GST rates rationalisation, Centre counters states

India Today  

First the Covid, then the ongoing Russia-Ukraine war. GST RATES The GST council then led by finance minister, late Arun Jaitley had kept just 50 items in the highest tax rate of 28 per cent. There is a view among the council members that to raise collections a rejig of taxes that includes several items being moved to higher tax …

GST Council meeting on Friday; tax concession to 11 COVID drugs, bringing petrol and diesel under GST on cards
3 years, 3 months ago

GST Council meeting on Friday; tax concession to 11 COVID drugs, bringing petrol and diesel under GST on cards

Firstpost  

Tax rate on Amphotericin B, Tocilizumab was cut to ‘Nil’, while Remdesivir and Heparin was reduced to five percent in June 2021. New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review tax rate of over four-dozen items and extend till 31 December, tax concessions on 11 COVID drugs. …

GST regime is in crisis
3 years, 6 months ago

GST regime is in crisis

Hindustan Times  

The Goods and Services Tax Council will meet on May 28 after a gap of seven months. Many state governments, which are ruled by parties opposed to the Bharatiya Janata Party, have demanded a GST waiver on various kinds of medicinal supplies being used for treating Covid-19. Using GST Council meetings to tweak GST rates on various commodities – Gujarati …

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