GST on postage and revenue stamps reduced, altering taxable classification and compliance obligations for a limited period. Postage stamps, revenue stamps, stamp-postmarks, first-day covers and postal stationery are taxable goods under Schedule 1 and attract a reduced GST rate of five percent for a specified limited period, with items classifiable under a separate tariff heading excluded, thereby adjusting rate application and compliance obligations for suppliers and traders of those items.
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GST on postage and revenue stamps reduced, altering taxable classification and compliance obligations for a limited period.
Postage stamps, revenue stamps, stamp-postmarks, first-day covers and postal stationery are taxable goods under Schedule 1 and attract a reduced GST rate of five percent for a specified limited period, with items classifiable under a separate tariff heading excluded, thereby adjusting rate application and compliance obligations for suppliers and traders of those items.
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