Popcorn Prices to Increase! GST on Popcorns Increased to 12%
Almost everyone likes to eat popcorn. It’s a dish that works to pass the time. Apart from home, we eat popcorn more at the movie hall. However, the price of this popcorn will increase now. The central government has now increased the GST on popcorn. This decision was taken in the GST Council meeting held in Jaisalmer, Rajasthan under the chairmanship of Union Finance Minister Nirmala Sitharaman.The council has agreed to impose not one, but three types of GST rates on popcorn. Interestingly, GST will be applicable depending on the flavors available in the market.
In a press conference held after the GST Council meeting, the finance minister said that popcorn made with normal salt and spices, if it does not have labeled packaging, will be charged 5% GST. Similarly, if it is packaged and labeled, the rate will be 12%. She added, “Similarly, 18 percent GST will be levied on popcorn made from caramel.” On the other hand, the GST rate on fortified rice has been reduced from 18% to 5%.
How Much GST has Increased on Popcorn?
In a meeting chaired by Finance Minister Nirmala Sitharaman, popcorn has been included in three tax slabs. The new GST rate proposal on popcorn includes a tax of 5% for ready-to-eat, 12% for pre-packaged and 18% for caramelized popcorn.
The GST Council has also discussed the imposition of tax on ready-to-eat popcorn. 5% GST will be levied on sale of salted and spiced popcorn without packs. 12% GST will be levied on pre-packed popcorn. This means, 12% GST will be levied on the price of pre-packed popcorn worth Rs 20. However, caramelized popcorn mixed with sugar will be treated as sugar confectionery, on which 18% GST will be levied.
According to the GST Council, no new tax has been imposed on popcorn. In the meeting, only the rates of tax applicable earlier have been clarified. Because some sectors were demanding different tax rates on it. However, these tax rates have now been clarified to resolve any disputes.
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