The GST Bachat Utsav began on the 22nd of September as the Narendra Modi government slashed GST rates in many sectors, benefitting citizens across the country. Our correspondent brings a report on how the next generation GST reforms are boosting the stationery sector of the country.
The next generation GST reforms have provided a major relief to households and students by lowering the GST on stationery products. Under the revised tax structure, items such as notebooks, graph books, sharpeners, erasers and pencils have been made completely tax-free.
These exemptions have made the products more affordable and accessible for students. Similarly, tax rate on learning materials like geometry boxes and mathematical instrument sets now attracts only 5 per cent instead of the earlier 12 per cent. This reduction has eased the financial strain on families while increasing demand for domestic manufacturers.
Talking to Akashvani News, Atul Deshpande, a parent from Pune, has hailed the government’s decision to lower the GST on stationery items and support education.
The significant deduction in this sector has reduced out-of-pocket education expenses for families and boosted the domestic stationery manufacturing.
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