New Delhi, Sep 23 (IANS) Packaged food products will not attract Goods and Services Tax (GST) at 5 per cent if the manufacturer declares to voluntarily forego any actionable claim or enforceable right on the brand name, the government has notified.
Following the decision of the GST Council earlier this month, "these notifications also provide that this 5 per cent GST will, however, not apply if the person concerned voluntarily foregoes any actionable claim or enforceable right on such brand name," a Finance Ministry release said here on Friday.
"These notifications, interalia, provide that 5 per cent GST will apply if on brand name (as defined in the notification) an actionable claim or enforceable right in court of law is available," it said.
The entity concerned will have to file an affidavit to the effect that it is voluntarily foregoing actionable claim or enforceable right on such brand name with the jurisdictional Commissioner of Central Tax or State Tax, or the jurisdictional officer of Union Territory Tax, it added.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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