It comes after several reports on Tuesday suggested that a Group of Ministers (GoM) on rate rationalisation had suggested an increase in Goods and Services Tax (GST) on 'sin' items like aerated beverages, tobacco to 35 per cent.Currently, aerated beverages regardless of their sugar content attract a 28 per cent GST - the highest slab, along with a compensation cess of 12 per cent. This takes the total tax burden on the category to 40 per cent. "Even zero sugar products are taxed at 40 per cent. We have made representations to all levels of the government, but taxation remains a bottleneck for us," said CK Jaipuria, vice-chairman, IBA.On Tuesday, the Central Board of Indirect Taxes and Customs called these reports "premature and speculative"."There should be a scientific reason behind the GST rates. If sugar is the problem, all sugary products should attract a higher slab. The tax structure is an impediment to investment," JP Meena, secretary general, IBA told Business Standard.

Hope govt brings down tax burden on aerated beverage category: IBA

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 9,000+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.