Memes flood the internet as GST Council confirms 18% tax on caramelised popcorn | Trending
The GST Council, in its 55th meeting on Saturday, clarified the tax structure on popcorn, stating there would be no changes to the exing rates. The GST Council clarified popcorn tax rates, sparking memes on social media.(Pixabay) Taxation details unveiledUnion Finance Miner Nirmala Sitharaman explained the rationale behind the GST rates during the meeting. She stated, “Salted, caramelised, plain popcorn is being sold as namkeen in certain states. Caramelised popcorn comes with added sugar, so the treatment rate is different from namkeen.” Under the current structure, pre-packed and labelled ready-to-eat snacks, including popcorn, are subject to a 12% GST. Meanwhile, caramelised popcorn attracts a higher rate of 18%. For unpackaged and unlabelled popcorn mixed with salt and spices, the GST is set at 5%. (Also read: Tsunami of ‘middle class’ memes as tax slabs revised in Nirmala Sitharaman’s Budget 2024) The Central Board of Indirect Taxes and Customs (CBIC) will soon issue a circular to provide further clarity on these tax rules. The council emphasised that the tax differentiation arises from the varied characterics and preparation methods of popcorn. Social media reacts with wit and humourThe announcement sparked a wave of hilarious memes on social media, with users showcasing their creative takes on the GST levied on popcorn. One user took a playful jab at the GST Council, sharing a meme that depicted the complexities of calculating tax on popcorn. Another quipped, “Suddenly #Popcorn got so much attention. #ACTII is so popular without advertisements.” Some users went beyond popcorn, humouring the situation suggesting other food items for taxation. Here are some more hilarious memes that you should check out: The internet’s reaction has ranged from witty jabs to outright laugh riots. Memes featuring calculations on caramelised versus salted popcorn are trending, with users tagging the Finance Miner in their posts. (Also read: ‘All unacceptable to share publicly’: Mark Zuckerberg talks about his favourite memes. Watch)
