The 55th GST Council meeting was held on Saturday under the Chairpersonship of Union Minister for Finance and Corporate Affairs Nirmala Sitharaman in Rajasthan’s Jaisalmer, introduced several updates to the taxation framework while deferring discussions on GST restructuring for insurance products. Popcorn with salt and spices (if unpackaged) will attract 5% GST, pre-packaged popcorn will have a 12% GST rate, and caramel-coated popcorn will be taxed at 18%. Fortified Rice Kernels: The GST rate was standardized at 5%, down from the previous 18%, regardless of end use. Tax on used cars: Used EV (individual selling to another individual) will pay 0 percent tax, but a company/registered used car seller dealing with resale of EV/petrol/diesel will have to pay 18 percent on margin value. Gene therapy and Long-range Surface-to-Air Missiles (LRSAMs) has been totally exempted from the GST. Review of GST on life and health insurance deferred. Separately, a ministerial group would be set up to examine tax levies by states hit by natural disasters.