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Tax Rate Will Be Higher Than Namkeen, Clarifies GST Council, Caramel Popcorn Contains Added Sugar
The Business Guardian
|December 24, 2024
It has allegedly been recommended by the CoM that health insurance for senior citizens and term life insurance should be exempted from the purview of the GST.
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The GST Council in its 55th Meeting chaired by Finance Minister Nirmala Sitharaman announced significant changes to the GST regime.
The changes introduced to the GST regimes are as follows:
The gene therapy has been exempted from the purview of the GST.
The Decision on whether the restaurant services which are provided by electronic commerce operators should be taxed at 5% has been deferred and the said decision needs to be taken by the fitment committee and whatever decision is taken by the committee will be placed before the council for further actions.
As far as the GST on online gaming is concerned, the said issue did not feature in the deliberations of the committee despite being a topic of interest in previous discussions.
This story is from the December 24, 2024 edition of The Business Guardian.
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