THE Group of Ministers (GoM) on rate rationalisation in a meeting on Wednesday discussed rates of 85% of the items under GST, even though the talks on health and life insurance premiums remains unresolved. The general consensus of the meeting was that goods and services used by common people should have lower GST rates.
Speaking to TNIE, West Bengal finance minister Chandrima Bhattacharya, who is part of the GoM, said it is decided to cut the rate on education-related materials, including exercise books and pencils from 12% to 5%. The change is likely to provide relief to families and make educational resources more accessible.
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