GST Council meets key decisions: Clarity on tax rate on popcorn, GST rate on sale of used cars increased, says report – Newz9

GST Council Meeting newest replace: The ongoing fifty fifth GST council assembly in Jaisalmer is addressing essential taxation issues, together with revisions for AAC blocks, fortified rice and flavored popcorn classes.
According to ET’s Deepshikha Sikarwar, the GSR council has decided that Autoclaved Aerated Concrete blocks containing over 50% fly ash will likely be categorised underneath HS code 6815, lowering the GST rate to 12% from the earlier 18%.
In the session led by Finance Minister Nirmala Sitharaman, the GST council has sanctioned a rate improve to 18% from 12% for transactions involving the sale of outdated and used cars, together with electrical automobiles, sources have been quoted as saying.
The GST council has opted to streamline the taxation construction for fortified rice kernels by implementing a uniform 5% rate, regardless of its meant use, eliminating earlier complexities, the report mentioned.
Regarding prepared-to-eat popcorn taxation, the council specified that salt and spice-seasoned popcorn, just like namkeens, will incur 5% GST when bought with out packaging and 12% when pre-packaged and labeled.
However, sugar-coated varieties like caramel popcorn, categorized as confectionery underneath HS 1704 90 90, will entice 18% GST.
The GST council has postponed selections on insurance coverage-associated points for added evaluation, following the shortage of settlement throughout the Group of Ministers deliberations on this matter.