New Delhi : If you go to watch any movie, you must be enjoying popcorn along with the movie. If you are also a popcorn lover, then now your pocket can be seen having a huge impact. Today, in the 55th meeting of the GST Council in Jaisalmer, a decision has been taken to increase the tax rate on popcorn. If you eat popcorn of different flavors, then you will have to pay tax according to the flavor.
The effect of this decision taken in the 55th meeting of the GST Council can be seen not only on popcorn but also on the purchase of movie tickets. Now you will have to pay many times more to enjoy popcorn with your movie.
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How much tax will have to be paid on popcorn?
Simplifying the tax structure of fortified rice, the GST Council has decided to impose 5 percent GST on these rice. No matter for what purpose you use this rice. Now you may have to pay extra money for ready to eat popcorn. All the information related to the tax rate on popcorn has been revealed. If there is any popcorn flavor which is prepared only with simple salt and spices and is not packaged and labelled, then GST of up to 5 percent can be imposed on it. If this popcorn is packaged and labelled, then you will have to pay 12 percent GST rate for it. If you want to eat caramel popcorn containing sugar, then it is categorized as sugar confectionery and you will have to pay 18 percent GST for it.
Discussion took place on these decisions
In this 55th GST meeting held in Jaisalmer, GST on products like insurance, luxury products, air fuel i.e. ATF is going to be discussed. There was a strong discussion for some time that the GST Council can reduce the GST rate on life and health insurance premium. The purpose of doing this is to encourage more and more people to buy insurance.
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