New Delhi . The 55th meeting of the GST Council was held in Jaisalmer under the leadership of Union Finance Minister Nirmala Sitharaman, where decisions on new tax rates on popcorn were taken. In this, the Council has planned to include popcorn in three different GST slabs, which will be according to its flavor. The tax details are as follows – 1. On popcorn (not packaged and labeled) prepared with ordinary salt and spices. 5 percent GST will be applicable. 2. Packaged and labeled popcorn with ordinary salt and spices will attract 12 per cent tax. 3. 18 percent GST will be applicable on sugar flavored popcorn. Popcorn business is big not only in India but also around the world. In the last year, popcorn business has been continuously increasing in India and according to a report, its worldwide market has become more than 8 billion dollars. Other decisions were also taken in the GST Council meeting, including 18 percent GST on used cars, 5 percent GST on fortified rice and complete exemption for gene therapy. Proposals to reduce GST rates on health insurance and life insurance have been shelved, while there is no relief for online food ordering on Zomato and Swiggy. Overall, the GST Council meeting has made major changes in the tax on popcorn keeping in mind the business matters, which can directly impact the general public.
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