Whether Pushpa bows down or not… but the pockets of cinema lovers who go to watch a film like Pushpa in the theater are definitely going to bow down. Because the government has started collecting tax on popcorn. The thing to note here is that now the government will collect tax as per the flavour. This big decision has been taken in the 55th meeting of GST Council held in Jaisalmer. Now this will not only increase the tension of buying tickets but those who buy popcorn while watching the movie will also have to pay more.
Simplifying the tax structure of fortified rice, the GST Council has decided to levy 5% GST on it, irrespective of the purpose for which it is used. At the same time, complete details regarding tax rates on ready-to-eat popcorn have also been revealed. Popcorn prepared with ordinary salt and spices, if not packaged and labelled, will attract 5% GST. Whereas if it is packaged and labelled, this rate will be 12%. Whereas popcorn prepared from sugar like caramel has been kept in the category of “Sugar Confectionery” and will attract 18% GST.
Let us inform that in the GST Council meeting, many issues including adjustment in rates for various sectors like insurance, luxury products, aviation turbine fuel (ATF) will be discussed. There have been discussions over the past few months that the council is expected to consider proposals aimed at reducing GST rates on premiums for life and health insurance policies. Additionally, there is a strong possibility of a revised focus on reducing the tax burden for individuals by reducing rates on essential commodities such as food delivery services, bicycles and packaged drinks.
