GST Hike: Carbonated Beverages to Get Pricier
The GST Council has decided to increase tax rates on carbonated and several non-alcoholic beverages to 40%, impacting prices of popular drinks like Coca-Cola and Pepsi. However, rates on fruit pulp drinks and plant-based milk beverages have been reduced to make them cheaper.
- Country:
- India
In a noteworthy decision on Wednesday, the GST Council sanctioned an increase in tax rates on carbonated beverages, including famous soft drinks Coca-Cola and Pepsi, raising the levy from 28% to an impactful 40%.
This adjustment forms a part of broader reforms under the Goods and Services Tax (GST), adjusting rates not only on carbonated beverages but also caffeinated drinks and non-alcoholic beverages.
Conversely, drinks derived from fruit pulp and plant-based milk products will become more affordable with significant GST cuts, aimed at promoting healthier options in the market.
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