rewrite this content and keep HTML tags
Even seven years after its introduction, the Goods and Services Tax (GST) continues to dominate India’s economic debates. Recently, Finance Minister Nirmala Sitharaman’s comments on popcorn and second-hand cars rekindled frustrations among the public, sparking a flood of memes and jokes on social media.
But the concerns go beyond popcorn prices. While GST collections reached a record ₹2.10 lakh crore in April 2024, India’s GDP growth in the second quarter of FY 2024-25 slowed to an 18-month low of 5.4%. Why is the middle class, which is facing the brunt of inflation and indirect taxes, still feeling the pain?
Take popcorn: Plain popcorn sold loose is taxed at 5%, but caramelized popcorn is taxed at 18%. Similarly, selling your old car may involve GST, even though the margin (and confusion) falls on the dealers. From water purifiers (18%) to frozen parathas (18%), the complexity of GST impacts everyday essentials.
