Chapter 49 of the HSN Code specifies the GST rate for books and newspapers. The GST committee voted on the GST rates for goods and services during a meeting on May 18, 2017, with the introduction of GST in India on July 1. This article looks closely at the GST rate on books and newspapers.
GST does not apply to :
GST is not applied to printed books, including braille books and newspapers, magazines, calendars, atlases, charts, and globes.
The GST rate applies to brochures :
Whether or whether there are separate pages, brochures, booklets, and other printed items are subject to the 5% GST rate.
The 12% GST rate applies to
In addition to scripts, typescripts, and plans, additional hard copies, newspapers, pictures, and other items from the printing industry are taxed at a rate of 12% GST.
Among the items subject to the 12% GST are:
● Children’s pictorial, graphic, or sketchbooks.
● Music that is written or printed, bound or unbound, and has images or not.
● Original architectural, engineering, manufacturing, economic, geographic, or other sketches, handwritten texts, digital reproductions on photosensitive paper, and duplicates of the aforementioned items are also acceptable.
● Currency, cheque forms, share, stock, or bond papers, and analogous title documents, as well as stamp-imprinted materials and unsold postage, income, or similar tokens of current or future issuance that have, or will have, an acknowledged face amount
● Handwritten congrats, greetings, or notices can be sent on printed or hand-drawn cards, with or without enclosures or embellishments.
● Any sort of calendar, including chronological blocks, is printed.
Paper Products are Exempt from GST
Court fee stamps that are sold by the Government Treasury or by vendors authorized by it are not taxable under the GST for judicial and non-judicial stamp papers, nor are government-made postal items like envelopes and postcards, rupee notes whenever the Reserve Bank of India issues them, and checks, regardless of whether they were lost or were in book form.
The GST is 5%. Regarding Paper Products
The GST rate is 5% for both rolls and sheets of printed material. This is the only paper product that will be billed at this rate.
The chapter 49 of the HSN code contains the GST rate for books and newspapers. The GST is expected to go into effect in India on July 1st, 2017. The GST Council decided on the GST rates for goods and services during a conference that was held as part of the GST Conference on May 18, 2017. Only wall coverings that are connected to wallpaper are subject to the 28% GST rate.
How long ago did the GST rates go into effect ?
The GST became active on July 1, 2017.
Do newspapers have a GST exemption ?
Newspaper sales are not subject to the GST tax. Newspapers are subject to a GST under HSN Chapter 4902, however under the GST Law, they are excluded. As a result, newspapers are exempt from GST.
books qualify for a GST exemption ?
All forms of hard copies of books are exempt from GST under the existing tax laws. Although it is advantageous to the reader, publishers, distributors, and manufacturers are nonetheless subject to it.
What is the GST ?
A taxation scheme for goods and services sold in India is called the goods and services tax (GST). Customers must pay the tax at the time of purchase and the proceeds go to the government. The tax is included in the final price. The majority of countries use the GST, a worldwide tax.