GST 2.0 benefit sought for bags, papers, furniture

Facing increasing losses, businesses in these sectors have sought GST reduction; submit memorandum ahead of next GST council meeting

- Kuldeep Tiwari

The new Goods and Service Tax (GST 2.0) rolled out from September 22 has reduced prices on multiple consumer products. However, many sectors are still fighting for survival as benefits have passed them by.

While automobiles, consumer durables, food, education and healthcare supplies enjoy tax cuts, manufacturers of school bags, paper and furniture are urging the GST Council to reduce their tax burden. These industries face mounting business losses, and ironically, the government is losing revenue too, according to industry sources.

'Stationery expensive'

“While the government has announced reduction in GST on stationery items, they haven’t got cheaper; instead, they have become expensive,” said Bhupendra Gandhi, Vice President of Federation of Paper Merchant in India.