Mumbai, Sep 2
The GST Council is expected to make a final decision during its two-day meeting this week regarding the Centre’s proposal to reduce GST rates on over 150 items as part of a comprehensive rate adjustment.
A significant part of the plan includes expanding the nil GST category by including commonly consumed food items like loose paneer, khakhra, pizza bread, chapati, and roti, which currently face GST rates of 5 per cent to 18 per cent, according to multiple reports.
The education sector is also set to benefit as items like maps, globes, pencil sharpeners, exercise books, graph books, and lab notebooks are proposed to have their GST reduced from 12 per cent to zero. This may offer significant cost savings for students and parents, particularly before the new academic year.
Rate cuts will be presented to the GST Council, comprising Central and State representatives. The revised GST structure may be implemented by September 22 after approval.