Ice Cream Industry

Softy ice cream mix not dairy produce, attracts 18% GST, rules AAR

Softy ice cream mix in vanilla flavour is not a dairy product and will attract 18 per cent GST, Rajasthan bench of Authority of Advance Ruling has said. VRB Consumer Products Pvt Ltd had approached the AAR on the taxability of vanilla mix in powder form which will have 61.2 per cent sugar, 34 per cent milk solids (skimmed milk powder) and 4.8 per cent of other ingredients, including flavouring substances and salt. The Authority of Advance Ruling (AAR) observed that each ingredient has a specific role to make the soft serve smooth and creamy in texture. Further, it is also conclusive that not only that contents of the product, but also the processing done in the soft serve machine also play a vital role in giving smooth and creamy texture characteristic of soft serves. As per GST law, food preparations subjected to further processing for human consumption attract 18 per cent tax. Also preparations consisting of milk powder, sugar and any other added ingredients, powder for table crea

HUL's ice-cream business sparks sale buzz, big players ready to scoop in

Companies such as RJ Corp, MMG Group, and Nestle SA are closely monitoring developments, with potential synergies aligning their interest in a possible acquisition

HUL constitutes committee to discuss the way forward for ice-cream business

In its stock exchange filing, the company said that the board also accorded its approval to explore potential structures and alternatives for the same

Lotte planning to invest Rs 550 cr to expand ice cream business in India

The company plans to develop a state-of-the-art manufacturing plant in Maharashtra's Pune district which is expected to become operational by June 2024

Summer scoop: how to get yourself a healthy ice cream treat

Season or reason for this treat doesn't matter: Indians are willing to pay good money for their frozen flavour

Ice-cream brand Baskin Robbins looks at 20% growth in India in FY24

Premium ice-cream brand Baskin Robbins is looking at a 20 per cent growth in India in the 2023-24 financial year, a company official said. Mohit Khattar, the CEO of Graviss Foods, which is the master franchise for Baskin Robbins in South Asia, said the company was not perturbed by Reliance's foray into the segment as competition is good for the industry. Following are the excerpts from an interview he gave to PTI: Q. What is your growth strategy in India? -- The growth strategy for Baskin Robbins in India centres around innovation in every aspect -- the products we have, the way we serve our customers, the way we advertise. So it's all about reaching out to different audiences. Q. How do you plan to expand in Tier 2 and Tier 3 cities? -- We are present across 239 cities in India. So, we are already in Tier 2 cities. It is not that difficult for us. It is about getting our products right, which is what we're more focused on -- whether it's different flavours or beverages. One of t

Baskin Robbins to add 100 ice cream parlours to expand its network in FY24

Baskin Robbins, an ice cream brand operating in the premium space, has plans to add around 100 parlours in the current fiscal expanding its network further, said a top company official. The company is looking for a double-digit growth in sales, helped by multiple growth drivers, including expansion of ice cream parlours and new offerings, said Mohit Khattar, CEO of Graviss Foods -- the Indian franchise partner of Baskin Robbins. "Last year, we have crossed 850 ice cream parlours and this year (FY24) the plan is to add another 100 parlours to our network," said Khattar. Most of the expansion would be through its franchise partner, though the company would also open some of them. "The idea is to keep penetrating, keep going down and extending the brand into new cities," he said When asked about the growth, he said: "We expect the market to grow about 15 to 16 per cent and we are expecting a growth higher than that." Khattar declined to share the financial details, however, he said:

South Korea's Lotte to invest Rs 450 cr in Indian unit Havmor Ice Cream

Money will be used for new production facility in Maharashtra

GST on ice cream parlours may lead to litigation, say experts

The Council said ice cream parlours would draw 18% GST

John Abraham, others invest Rs 4 crore in icecream maker NOTO

Actor John Abraham and a clutch of venture capital (VC) funds have invested Rs 4 crore in NOTO, the low-calorie and high-protein icecream brand said on Tuesday

Israeli PM Bennett vows to 'act aggressively' over Ben & Jerry's ban

The announcement was one of the highest-profile company rebukes of Israeli settlements in the West Bank and east Jerusalem

Despite early rains, ice cream brands take a big bite this summer

Most ice cream brands have launched more variants, innovations and flavours this year

Local ice cream brands step up national play

Buoyed by an expanding market in the country, Arun, Cream Bell, Vadilal, Heritage leverage local strengths to craft a national identity

E-commerce brings ice cream to the doorstep

Unlike vegetables, ice cream was difficult to handle till it was packed in insulated bags that stop it from melting for 40 minutes

Brands play to the ice cream stands

Havmor, Vadilal look for a national presence, while Amul, Mother Dairy, Magnum and Baskin Robbins spar over a slice of the premium market