financetom
Economy
financetom
/
Economy
/
Govt likely to remove GST from freebie products, says report
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Govt likely to remove GST from freebie products, says report
Aug 23, 2018 2:27 AM

The Goods and Services Tax (GST) council is likely to wave off GST from freebie products offered by FMCG, pharmaceutical, food and retail companies, The Economic Times reported.

Offers such as buy one get one free, free samples and additional quantities for the same price products may no longer be taxed, the report said. The final call on the issue will be taken by the Council, a government official told the newspaper.

Tax authorities have sent notices to such companies that had offered freebies and had become taxable after the GST roll out last year, the report said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Japan, US agree to keep current 50% tariff on steel, aluminium, NHK reports
Japan, US agree to keep current 50% tariff on steel, aluminium, NHK reports
Jul 22, 2025
TOKYO (Reuters) -Japan and the United States agreed to keep the current 50% tariff on steel and aluminium as part of the bilateral trade deal, Japanese public broadcaster NHK reported on Wednesday. ...
Japan vows more US rice imports within tariff-free quota
Japan vows more US rice imports within tariff-free quota
Jul 22, 2025
TOKYO (Reuters) -Japan will import more rice from the United States but within the existing tariff-free quota, Prime Minister Shigeru Ishiba said on Wednesday, stressing Tokyo's success in protecting the agricultural sector in agreeing a bilateral trade deal. After months of negotiations, the two countries struck a deal to lower the so-called reciprocal tariffs to 15% from a proposed 25%,...
Reaction to U.S. trade deal with Japan
Reaction to U.S. trade deal with Japan
Jul 22, 2025
(Reuters) -President Donald Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country. In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States. COMMENTS HIROFUMI SUZUKI, CHIEF CURRENCY STRATEGIST, SMBC, TOKYO:...
Reaction to U.S. trade deal with Japan
Reaction to U.S. trade deal with Japan
Jul 22, 2025
(Reuters) -President Donald Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country. In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States. COMMENTS KRISTINA CLIFTON, SENIOR ECONOMIST, COMMONWEALTH BANK OF...
Copyright 2023-2026 - www.financetom.com All Rights Reserved