GST Council reduces GST rates on 18 handicrafts items
The Goods and Service Tax (GST) Council has reduced the GST rates on 18 handicrafts items which include items like idols of clay, wood, stone, metals, table and kitchenware, paper machie articles, stone inlay work, statues, worked ivory, bone, shell horn items, cotton quilts, brooms and brushes and some natural fibre products. This was informed by the Export Promotion Council for Handicrafts (EPCH), a nodal agency for promotion and development of handicrafts exports from the country, in a press statement recently. On items like idols of clay GST has been reduced from 28 percent to 12 percent. Also people with idol business of worth Rs 20 lakhs do not need to register with GST. Only 5 percent tax on cotton quilts worth up to Rs 1000. Cotton quilts worth more than that will be levied 12 percent tax. And 5 percent tax which was levied on cotton sports has been removed. EPCH has been regularly representing to the GST Council various measures which are required to be t...