GST Council slashes tax on handicraft, handloom products: Finance Minister
Bhubaneswar: The Goods and Services Tax (GST) Council has slashed the taxation on handicraft and handloom products following regular demands of Odisha Government, informed Finance Minister Sashibhusan Behera in a press conference today.
While there was 28 percent GST on clay and stone sculpture, Sabai grass weaving ropes and Sal leaf plates, cups at 18 percent GST.
Odisha had been reiterating its demand for tax exemption on handicraft and handloom products and Chief Minister Naveen Patnaik had also written a letter over the matter to Prime Minister Narendra Modi.
Respecting the state’s demand the GST Council in a meet held on September 9, 2017 in Hyderabad had slashed the taxes on the products.
The GST on Sabai Grass weaving ropes and Sal leaf plates, cups have been slashed to 5% from 18% and tax on clay sculpture was exempted from the GST regime.
Besides, 5 percent has been slashed on Khadi fabrics and apparel marketed by certified organizations of the Khadi and Village Industries Commission (KVIC).
Behera also informed that 12% tax has been exempted from other handicraft products with 18% tax.