Goods & Services Tax (GST) Updates

[Sushubh]

Apparel industry opposes GoM's proposed GST hike, citing growth concerns - CNBC TV18

The industry expects the proposed GST hike to affect growth and has urged the government to discard any rate revisions as the intent of the government should be to streamline the tax structure in a way that makes products affordable for consumers and strengthen the apparel industry’s growth and...

www.cnbctv18.com

 

[Sushubh]

Electronic Credit Ledger can be blocked even if fraudulently availed ITC has been used up: Madras High Court

The Madras High Court recently held that Electronic Credit Ledgers (ECL) of firms suspected to have wrongfully availed input tax credit (ITC) can be blocked eve

www.barandbench.com

 

[Sushubh]

GST Council meet key decisions: No GST on bank penal charges, clarity on tax rate on popcorn & more - top announcements - Times of India

India Business News: Finance Minister Nirmala Sitharaman led the 55th GST Council meeting in Jaisalmer. AAC blocks with high fly ash content will now face a lower 12% GST.

timesofindia.indiatimes.com

Regarding ready-to-eat popcorn taxation, the council specified that salt and spice-seasoned popcorn, similar to namkeens, will incur 5% GST when sold without packaging and 12% when pre-packaged and labelled.
However, sugar-coated varieties like caramel popcorn, categorised as confectionery under HS 1704 90 90, will attract 18% GST.

Long Range Surface to Air Missile (LR-SAM) system granted tax exemption

 

[Jonas]

GST Council: Used EVs bought by companies or modified and sold by sellers to be taxed at 18% on margin value, says FM - CNBC TV18

Finance Minister Nirmala Sitharaman said that new EVs attract a 5% GST and the Council aims to promote the adoption of electric vehicles.

www.cnbctv18.com

 

[Sushubh]

'Even I come from middle-class family...': Nirmala Sitharaman clarifies on tax burden, says GST didn't raise prices

Addressing misconceptions, she added, “To think that before GST all these were free whereas now they are taxed—no. I can for sure say after GST, the tax rate on all of them has come down. I’ve released numerous datasets to show that ordinary daily-use items have been brought down in tax. Let’s...

www.businesstoday.in

 

[Navjot Singh]

Source

I guess the easiest option is for theatres to stop selling popcorn and ask the viewers to BYOP (Bring your own popcorn).

 

[Sushubh]

The GST story: Denying fiscal autonomy to states stunts India’s growth potential

Telling Tall Tales is a fortnightly column by Tara Krishnaswamy on matters that matter.A few days back, the Andhra Pradesh Finance Minister, Payyavula Keshav, h

www.thenewsminute.com

 

[Sushubh]

Dunkin’, Mad Over Donuts, Among Other Donut And Bakery Chains Face GST Scrutiny Over 18% Tax Demand

Dunkin’, Mad Over Donuts, Among Other Donut And Bakery Chains Face GST Scrutiny Over 18% Tax Demand

www.ndtvprofit.com

 

[Sushubh]

Popcorn GST | Donuts to rosogolla, GST bites into foods in India; Congress highlights HC case - Telegraph India

 

[Sushubh]

Dining at hotels with room rates over Rs 7,500? Get ready to pay more

From April 1, 2025, Hotels charging above Rs 7,500 per night will be classified as ‘specified premises’, making their restaurants liable for 18% GST.

www.indiatoday.in