Paper stocks rise after 53rd GST Council recommends 12% GST on cartons, boxes and cases made from corrugated and non-corrugated paper or paperboard

JK Paper’s shares hit their 52-week high of ₹555 during Monday’s trading session. The stock has rallied over 42% in the past month. West Coast Paper Mills’ shares were up by 2.70% during the day and hit an intraday high of ₹718.40. Shares of NR Agarwal Industries jumped by nearly 13%. The stock hit a fresh 52-week high of ₹548 on Monday.

Meanwhile, Andhra Paper was up 1.28% and Orient Paper was up 1.55%. Shares of Satia Industries and Emami Paper were up 3.06% and 1.27%, respectively.

The GST Council has proposed a 12% GST on cartons, boxes and cases made from corrugated and non-corrugated paper or paperboard.

In addition, Finance Minister Nirmala Sitharaman announced that a GST of 12% will be applicable on all milk cans made from steel, iron, and aluminium, irrespective of their use. Similarly, a 12% GST will be applicable on all single and dual-energy source solar cookers. Moreover, fire sprinklers and other types of sprinklers will attract a GST of 12%

The GST Council also recommended a 5% integrated goods and service tax (IGST) on the import of aircraft parts, components, testing equipment, tools, and toolkits.

The GST Council recommended exemption of the services provided by Indian Railways to the general public, namely, the sale of platform tickets, facility of retiring rooms/waiting rooms, cloakroom services, battery-operated car services and intra-railway transactions from GST.

The GST Council also proposed to roll-out the biometric-based Aadhaar authentication of registration applicants on a pan-India basis in a phased manner to strengthen the registration process in GST and help in combating fraudulent input tax credit (ITC) claims made through fake invoices.