GST impact: Fake brands of packaged food flood market

With the packaged food industry taking a hit because of the GST burden, businesses from across India applied for deregistration in a bid to escape the tax. Popular trademarks went off the shelf overnight and manufacturers began selling products under new, unregistered trademarks. The GST Council in September issued a clarification saying registered brands as on May 15, 2017 would attract tax even…