In the GST Council meeting held on Saturday, December 21, led by Union Finance Minister Nirmala Sitharaman, it was decided that a tax rate of 18% will be applied to the margin value on the sale of used electric vehicles (EVs) and old vehicles by businesses. However, sales of used cars between individuals will be exempt from GST.
The Council also provided clarification regarding the taxation of popcorn. It confirmed that caramel popcorn will continue to be taxed at 18%. Additionally, pre-packaged and flavored popcorn will attract a 12% GST rate, while unpackaged and unlabeled popcorn will be taxed at 5%.
One of the X user shared a funny post quoting, “If salted popcorn is taxed at 5% GST and caramel popcorn at 18% GST, what will be the GST rate for this flavor.”
Also Read: GST Council Meeting: 18% Tax On Popcorn, List Of Things That Become More Expensive And Cheaper
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