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fortified rice GST rate

GST Clarifies Tax Rates on Salted and Caramel Popcorn

22 Dec 2024

The GST Council, in its 55th meeting on Saturday, clarified the difference in tax rates between salted and caramel popcorn, ensuring no change in the existing rates. Union Finance Minister Nirmala Sitharaman explained the rationale behind the variation, addressing questions raised by stakeholders. Popcorn Taxation Explained According to the GST...

No GST On Penal Charges by Banks, Says Nirmala Sitharaman

21 Dec 2024

Finance Minister Nirmala Sitharaman announced that borrowers will not have to pay Goods and Services Tax (GST) on penal charges levied by banks or financial institutions. The announcement was made during the 55th GST Council meeting held in Jaisalmer, Rajasthan. What Are Penal Charges? Penal charges are fees imposed on...