{"id":36311,"date":"2018-11-02T12:06:54","date_gmt":"2018-11-02T06:36:54","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=36311"},"modified":"2018-11-02T12:06:54","modified_gmt":"2018-11-02T06:36:54","slug":"finmin-clarifies-definition-of-branded-items-for-gst","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/finmin-clarifies-definition-of-branded-items-for-gst\/","title":{"rendered":"FinMin clarifies definition of \u2018branded\u2019 items for GST"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-business\/finmin-clarifies-definition-of-branded-items-for-gst\/article19218354.ece\"><b>FinMin clarifies definition of \u2018branded\u2019 items for GST<\/b><\/a><\/p>\n<hr \/>\n<p><b>Defining \u2018Branded Item\u2019 for GST<\/b><\/p>\n<p><b>Context<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"> \u00a0<\/span><span style=\"font-weight: 400;\">With regard to GST, the term \u201cbrand name\u201d has brought in some confusion as both analysts and traders found the definition and meaning of \u201cbrand name\u201d ambiguous in nature<\/span><\/li>\n<\/ul>\n<p><b>Current Issue<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"> \u00a0<\/span><span style=\"font-weight: 400;\">The Ministry of Finance clarified that for the purposes of Goods and Services Tax (GST) applicability, an item will be deemed to be \u2018branded\u2019 if it carries a brand name or trade name that is registered under the Trade Marks Act, 1999<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0\u00a0<\/span><span style=\"font-weight: 400;\">Unless the brand name or trade name is actually on the Register of Trade \u00a0\u00a0Marks and is in force under the Trade Marks Act, 1999, CGST rate of 5% will not be applicable on the supply of such goods<\/span><\/li>\n<\/ul>\n<p><b>What is the Need?<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">There was confusion around the definition of a branded product, since several unbranded food items are exempt from GST while their branded variants fall in the 5% tax bracket.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Doubts are being raised as to the meaning of registered brand name.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>FinMin clarifies definition of \u2018branded\u2019 items for GST Defining \u2018Branded Item\u2019 for GST Context \u00a0With regard to GST, the term \u201cbrand name\u201d has brought in some confusion as both analysts and traders found the definition and meaning of \u201cbrand name\u201d ambiguous in nature Current Issue \u00a0The Ministry of Finance clarified that for the purposes of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/finmin-clarifies-definition-of-branded-items-for-gst\/\">Continue reading <span class=\"screen-reader-text\">FinMin clarifies definition of \u2018branded\u2019 items for GST<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-36311","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700798328,"cached_date":1704920583},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/36311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=36311"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/36311\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=36311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=36311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=36311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}