Source: LiveMint.com, Sept 21, 2017
NEW DELHI: Packaged food products will not face goods and services tax at the rate of 5% if the manufacturer declares to voluntarily forego any actionable claim or enforceable right on the brand name.
“5% GST will, however, not apply if the person concerned voluntarily foregoes any actionable claim or enforceable right on such brand name, subject to the conditions,” a finance ministry statement said on Wednesday. The entity 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 said. Read the rest of this entry »