Plan afoot to reclassify items for GST clarity in FMCG sector

The Central Board of Indirect taxes and Customs (CBIC) is planning to prepare a list of products which end up in litigation purely due to classification issues. The fitment committee is likely to look into such items where there is a minor change in composition but the tax slabs are different, creating confusion in tax liability, mostly in the fast-moving consumer goods (FMCG) secto…