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Sep 21, 2017
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Branded foodgrains, flours to attract 5% levy under GST
The Finance Ministry on Wednesday clarified that all branded cereals, pulses and flours deemed to be a registered brand under any law in the country, including the Copyright Act as on May 15, 2017, will attract Goods and Services Tax at the rate of five per cent.“The GST Council, in its 21st meeting held on September 9, 2017 at Hyderabad has recommended five per cent GST rate on cereals, pulses and flours etc. put in unit container and bearing a registered brand name,” said an official statement.The issue had come up as many manufacturers were de-registering their brand names to avoid the levy.
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http://www.thehindubusinessline.com
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