GST Council recommends 5% GST on ready-to-eat popcorn mixed with salt & spices if not pre-packaged, 12% on pre-packaged and labelled, 18% on caramel popcorn.
The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman in Jaisalmer, Rajasthan, has proposed new tax rates on popcorn, according to sources.
The recommendations include a 5% GST on ready-to-eat popcorn mixed with salt and spices, provided it is not pre-packaged.
Pre-packaged and labeled popcorn will attract a 12% GST, while caramel popcorn will be taxed at 18%.
Sources also revealed that discussions on the Group of Ministers (GoM) report regarding GST rates for the insurance sector have been deferred. Bihar Deputy Chief Minister Samrat Chowdhary said differences among GoM members led to the delay.
“The decision will be taken up in the next meeting,” he stated, adding that the GoM on insurance is likely to meet again in January for further deliberations.
The meeting, which is still ongoing, is attended by several key officials, including Union Minister of State for Finance, P P Choudhary, and Chief Ministers from states like Goa, Haryana, Jammu and Kashmir, Meghalaya, and Odisha.