Shares of stationery companies gained on Thursday after the GST Council announced sweeping rate cuts on key education-related items.
Kokuyo Camlin jumped 5.04%, DOMS Industries climbed 4.67%, and Navneet Education gained 0.70%.The GST Council, in its 56th meeting chaired by Finance Minister Nirmala Sitharaman, reduced GST on pencils, crayons, pastels, drawing charcoal, chalk sticks, and tailors chalk from 12% to nil. Exercise books, graph books, laboratory notebooks, and notebooks too have been exempted from GST, compared with 12% earlier.
Additionally, boxes, pouches, wallets, and writing compendiums of paper or paperboard containing assorted stationery will now attract 5% GST instead of 12%.
The move is expected to make school supplies more affordable for students while boosting demand for stationery companies.
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