Indian Ice-Cream Manufacturers’ Association (IICMA) met with Finance Minister Nirmala Sitharaman to discuss GST rates on supply of ice cream by ice cream parlours in India

Advertisement

 ‘Circular No: 177/09/2022-TRU dated 3rd August 2022 in relation to GST rate on supply of ice cream by ice cream parlours during the period 1.07.2017 to 5.10.2021

AHMEDABAD, India, Aug. 9, 2022 /PRNewswire/ — IICMA met with the Minister of Finance to discuss GST rate on supply of ice-cream by ice cream parlours in India.  Considering the overall circumstances of the case, it is clarified that past cases of payment of GST on supply of ice cream by ice cream parlors @ 5% without ITC shall be treated as fully GST paid to avoid unnecessary litigation. Since the decision is only to regularize the past practice, no refund of GST shall be allowed, if already paid at 18%. With effect from 6.10.2021, the ice cream parlors are required to pay GST on supply of ice cream at the rate of 18% with ITC.

 The ice cream industry was one the severely affected industries due to global pandemic of COVID-19. Clarification for GST rates on ice cream parlours came after many years of inception of GST. It has been challenging for the ice cream industry to pay the difference amount of 13% GST as the sales were already made at 5% GST.

IICMA extends its thanks and appreciation for the support Finance Ministry of India has rendered to the ice cream industry of India. The positive decision by Finance Ministry has helped many small & medium scale ice cream companies in their existence and also helped the whole industry to avoid unnecessary litigation.

Mr. Sudhir Shah President of Indian Ice-Cream Manufacturers’ Association (IICMA) said, “I would like to thanks Smt. Nirmala Sitharaman Hon‘ble Minister of Finance, India for hearing us on the GST rate issue and supported the industry by accepting our genuine request.”

Mr. Sudhir Shah also added, “Thanks to GST Council members, Board Members, Central Govt. Ministers & MPs for helping and supporting the ice cream industry in the critical issue of GST rate on ice cream parlours.”

“Last, but not the least, I would like to thank the managing committee members and advisory committee members. All the efforts put in by the members and office bearers of Indian Ice-Cream Manufacturers’ Association (IICMA) under the leadership of Shri Rajesh Gandhi (Chairman – Non Executive) and continuous support from Shri. A. Balaraju (Vice- President), Shri. Ashish Nahar (Secretary) and Shri. Pradeep Pai  (Treasurer) has finally brought results on clarification from the Government in relation to GST rate on Services,” concluded Mr. Sudhir Shah.

About Indian Ice-Cream Manufacturers’ Association (IICMA):

The Indian Ice-Cream Manufacturers’ Association was founded in 2011 as the National Association of Ice Cream Manufacturers. It is a professional non-profit organization representing the ice cream and frozen desserts industry in India.

Follows us for daily updates:

Website: http://iicma.in/

Facebook: https://m.facebook.com/iicma.welcomesyou

Twitter: https://twitter.com/iicmaiicma

LinkedIn: https://www.linkedin.com/in/iicma-indian-6050751ab/

Instagram: https://www.instagram.com/iicma_office/?hl=en

Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.