GST Increase On Popcorn: Watching a movie while enjoying popcorn with girlfriend-wife becomes expensive, these 3 types of taxes will be levied, pocket will be cut according to the flavour.

GST Increase On Popcorn: If you go to watch a movie in the theater with your wife, girlfriend or friends, then you must be enjoying popcorn in the meal. However, now this fun is going to be expensive. Yes… Popcorn has now come under the ambit of GST, as is the flavour, so is the tax.

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In fact, on Saturday, the 55th GST Council meeting was held in Jaisalmer, Rajasthan under the chairmanship of Union Finance Minister Nirmala Sitharaman. Many important decisions were taken in the GST Council meeting. These decisions also include new tax rates on popcorn. In the meeting, the Council has included popcorn in different slabs of GST (GST On Popcorn) according to flavor. Meaning, not one but three types of taxes have been imposed on popcorn. That means now you will have to spend more money to buy it.

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In the meeting, the proposal to impose GST on Popcorn has been agreed upon and complete details regarding tax rates on ready-to-eat popcorn have also been revealed. Consider this, if the popcorn you buy is prepared with ordinary salt and spices and is not packaged and labelled, then GST at the rate of 5 percent will be applicable on it. On the other hand, if the same popcorn with salt and spices is sold packaged and labelled, then the tax rate on it will increase to 12% instead of 5%.

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Not only this, if we talk about sugar flavored popcorn, then buying it will burn the pocket the most. In fact, according to the proposal agreed upon in the GST Council meeting, popcorn prepared from sugar like caramel has been placed in the category of 'sugar confectionery' and will attract GST at the rate of 18 percent.

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Popcorn business in India is around Rs 1200 crore
Let us tell you that popcorn is a big business not only in India but all over the world. According to a report, in the year 2023, the popcorn business in India was around Rs 1200 crore and it is continuously increasing. On the other hand, its market has increased to more than 8 billion dollars worldwide so far this year.

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These important decisions were postponed in this meeting

Apart from popcorn, major decisions were taken on some important issues in the GST meeting. In the meeting, the GST Council has approved 18 percent tax on the margin price of electric vehicles sold by traders. Now the earlier 12% GST on the sale of old electric vehicles has been increased to 18% as is applicable on other normal vehicles also. Also, the rates of fortified rice have been reduced to 5%. Gene therapy has been completely exempted. ACC blocks containing more than 50 percent fly ash will now have GST reduced from 18 percent to 12 percent. Further, the Council clarified that black pepper and raisins, when supplied by a farmer, will not attract GST.

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