Overview

• The GST rate on used cars sold by businesses, including electric vehicles, was raised from 12% to 18%, but private sales remain exempt.
• Popcorn will now be taxed at varying rates: 5% for unpackaged, 12% for pre-packaged, and 18% for caramelized varieties.
• The Council deferred decisions on reducing GST for health insurance premiums and bringing aviation turbine fuel under the GST ambit.
• Key exemptions were introduced, including no GST on gene therapy and penal charges imposed by banks for loan non-compliance.
• Opposition leaders criticized the tax hikes, alleging they disproportionately burden middle-class families and small businesses.