The GST Bachat Utsav kicked off on 22nd of September as the Narendra Modi government slashed GST rates in many sectors, benefiting citizens across the country. Today, our correspondent brings a report on how the new GST rates in the handicrafts sector is helping citizens.
The next-generation GST reforms have brought major relief to artisans, traders, and consumers by cutting down taxes on several handicraft items. Under the new GST reforms, taxes on statues made of wood, stone, and metals have been slashed to 5 percent from the previously taxed 12 percent.
The tax cuts also include items like paintings, handcrafted candles, wood-carved products and kitchenware of clay and terracotta. The move is not just supporting the country’s artisans but also boosting the cultural economy and making handicrafts accessible to all.
Similarly, the GST on handbags and shopping bags made of cotton and jute has been brought down to 5 percent from earlier 12 percent slab. With the revised GST structure, the government aims to strengthen India’s cultural economy, support rural livelihoods, and preserve centuries old craft traditions.
This rationalisation under GST 2.0, is vital in making Indian handicrafts affordable for consumers, thereby helping to increase their reach and competitiveness in the global markets.
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