According to media sources, On the occasion of Independence Day this year, Prime Minister Narendra Modi announced from the ramparts of Red Fort the Next Generation of GST reforms by Diwali. His vision was realised on 3rd September with the GST Council reducing tax rates in many household goods to ease the life of common people.
Under the Next Generation GST Reforms, the government has taken an important step to ease the burden on students and families. Stationary items including note books, graph books, erasers, pencils, crayons, sharpeners, charts, maps, atlas and globe will be brought down to zero tax under the new structure. Items such as geometry boxes, colour boxes and pouches which previously fell under the 12 percent slab have now been reduced to 5 percent slab.
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