The 55th meeting of the GST Council has ended and the GST Council decided to impose or remove tax on many things in this meeting. Tax matters on flavored popcorn were also considered in the council meeting.

"The decision on imposing distinct taxes for food delivery, quick commerce, and platform services has been deferred. Despite widespread speculation in the media over the past week," explained FM Sitha

Vouchers: The GST Council has recommended no GST on the transaction in vouchers as they have been classified neither as a supply of goods nor as a supply of services. Penal Charges: No GST payable on penalties collected by banks and NBFCs for non-compliance with loan terms.

The GST Council raises tax on used small cars, including electric vehicles, from 12% to 18%, impacting the growing used car market in India.

FM Sitharaman has exempted tax rate on gene therapy during the decisions taken by the 55th GST Council Meeting, while deferring the rate decision on insurance premiums

The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. Revenue Secretary Sanjay Malhotra attends a GST Council meeting with Union Finance Minister Nirmala Sitharaman at Vigyan Bhawan,

Popcorn with salt and spices (if unpackaged) will attract 5% GST, pre-packaged popcorn will have a 12% GST rate, and caramel-coated popcorn will be taxed at 18%.

The premium paid by senior citizens towards health insurance coverage has been proposed to be exempted from the tax.

The GST Council's 55th meeting in Jaisalmer faced a deadlock over proposed GST rate cuts for term and health insurance. Several states, including West Bengal, Kerala, and Karnataka, expressed concerns over potential revenue losses,

GST Council meeting in Jaisalmer to discuss tax rate reduction on health insurance, ATF inclusion, and rate rejigs.