Global firms such as Perfetti Van Melle, Mondelez and Nestle either remained stagnant or lost share last calendar year, hurt by higher prices of their wares in a stressed market due to demonetisation.
The tax incidence on food processing must be viewed from the perspective that it adds tremendous value to farmers and helps in ameliorating huge agri-wastage
The division bench had allowed the appeal saying that in the short span from 2016, when ITC first started selling its digestive biscuits in a package of blue-yellow colour, the combination could not have become identified with the company.
GST will be levied on entire sum of food bill, including service charge, in a restaurant, while the value of alcohol or alcohol products consumed will attract VAT.