GST on ice cream too: 18 percent GST on ice cream sold in parlors

Ice cream sold in a parlor or similar outlet will now attract 18% GST. Along with this, ice cream parlors will now also get Input Credit (ITC) on this separate tax, which has been increased. The Central Department of Indirect Taxes and Customs (CBIC) has clarified various items and tax liability. Earlier there was 5% […]
 


GST on ice cream too: 18 percent GST on ice cream sold in parlors

Ice cream sold in a parlor or similar outlet will now attract 18% GST. Along with this, ice cream parlors will now also get Input Credit (ITC) on this separate tax, which has been increased. The Central Department of Indirect Taxes and Customs (CBIC) has clarified various items and tax liability. Earlier there was 5% GST on ice cream, but there was no input tax credit. Now you will get ITC. As per the circular, a concessional rate of 5% GST will be applicable on the sale of advertising space in souvenirs published in book form. Cancellation charges levied by hotels, tour and travel operators will attract GST at the same rate as applicable on the basic service.

Certificates of eligibility relating to cargo transit for Nepal-Bhutan and fees levied on prospective students for admission or issuance of services are exempted from GST.