GST Rate Cuts revive handicrafts sector, empower artisans and strengthen India’s cultural economy - news24online.com

The GST Bachat Utsav began on September 22, as the Narendra Modi government announced significant reductions in GST rates across multiple sectors, benefiting citizens nationwide. Today, our correspondent reports on how the revised GST rates in the handicrafts sector are supporting artisans and consumers alike.

The new generation of GST reforms has brought substantial relief to artisans, traders, and buyers by reducing taxes on various handicraft items. Under these reforms, the GST on statues made of wood, stone, and metal has been slashed from 12 percent to 5 percent.

The tax cuts also cover products such as paintings, handcrafted candles, wood-carved artifacts, and kitchenware made of clay and terracotta. This initiative not only supports local artisans but also strengthens India’s cultural economy by making traditional crafts more affordable and accessible.

Similarly, the GST on handbags and shopping bags made of cotton and jute has been reduced from 12 percent to 5 percent. With this revised structure, the government aims to bolster India’s cultural economy, sustain rural livelihoods, and preserve the nation’s centuries-old craft traditions.

This rationalisation under GST 2.0 plays a crucial role in making Indian handicrafts more affordable for consumers, thereby expanding their reach and enhancing their competitiveness in global markets. With Inputs from – Newsonair.gov.in.