Supreme Court rules coconut oil as edible, lowering GST tax rates
- Posted on December 18, 2024
- By Business News Today
- 1 Views
Supreme Court rules coconut oil as edible, lowering GST tax rates
The Supreme Court settled a 15-year dispute, classifying small-packaged coconut oil as edible oil with a lower 5% GST, unlike the 18% levied on hair oil. This benefits FMCG companies and consumers. The court clarified that coconut oil labelled for hair use, even in small bottles, would be considered hair oil.
