- GST on maps, charts and globes reduced from 12% to nil
- Pencils, sharpeners, crayons and pastels now exempt from GST
- Exercise books and notebooks GST cut from 12% to zero
The Goods and Services Tax Council, chaired by Finance Minister Nirmala Sitharaman, announced on Wednesday a sweeping cut in tax rates. The GST rate on maps, charts and globes will be reduced to nil from 12%.
Pencils, sharpeners, crayons and pastels will also see GST removed from 12%, according to a press release from the Union government on Wednesday.
-
India's Market Leaders To Decode The New Samvat At NDTV Profit Ignite In Mumbai On Oct 28 -
NDTV Profit IGNITE Diwali 2026: Top Market Veterans Decode Wealth Creation -
The Week Ahead: Earnings Season, Fed Policy Verdict And Crude Oil In Focus -
Silver Is Now Down From Rs 4.2 Lakh To Rs 1.9 Lakh: Where It Goes From Here -
NDTV Ignite, The Trillion-Dollar Trajectory: India's Road to 2030
Exercise books and notebooks, also formerly at 12% GST taxation, now have no tax on them. Erasers will also similarly have no GST compared to the previous GST of 5%.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The GST council has also approved a two-tier rate structure of 5% and 18%, replacing the existing four major slabs — 5%, 12%, 18%, and 28%. The changes will take effect from Sept. 22, with phased implementation for certain items.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
