Srinagar, Sept 05: Union Finance Minister Nirmala Sitharaman, while chairing the 56th meeting of the GST Council on September 3, approved a set of next-generation GST reforms aimed at easing the lives of ordinary citizens and simplifying business for traders and small enterprises.
The reforms come in line with Prime Minister Narendra Modi’s Independence Day pledge to reduce the tax burden on households. The Goods and Services Tax (GST) remains India’s biggest indirect tax reform, subsuming multiple central and state levies under one framework.
One of the key highlights is relief for students and families. Essential study materials such as exercise books, pencils, erasers, crayons, and sharpeners will now carry 0% GST.
Meanwhile, items like geometry boxes, school cartons, and trays have been shifted from the 12% tax slab to 5%.
The move is expected to make educational supplies more affordable, ease financial pressure on families, and enhance access to learning resources
The new GST structure, effective from September 22, will have two tax slabs: 5 per cent and 18 per cent. Sweeping rate cuts will apply across agriculture, MSMEs, healthcare, labour-intensive industries, and households
