Here is the list of changes in GST that retailers and customers must know:

GST Council has reduced the tax rate on several items, including 'Rab' (liquid jagger) and pencil sharpeners, besides rationalising late fees for the delayed filing of annual returns.

As per the notification by the finance ministry, the GST on pencil sharpeners will be 12% from 1 March. Earlier, it used to be 18%.

The GST rate on Rab (liquid jaggery) has been slashed from 18% to Nil if sold loosely. And, if pre-packaged and labelled, it will attract 5% GST.

If a device like a tag-tracking device or data logger is already affixed on a container, no separate IGST would be levied on the affixed device and the 'nil' IGST treatment available for the containers would also be available to them.

The Centre has also rationalised late fees for delayed filing of annual returns in Form GSTR-9 for 2022-23 onwards, for registered persons having aggregate turnover in a financial year up to ₹20 crore.

For registered persons having an aggregate turnover of up to ₹5 crore in a fiscal, the late fee will be ₹50 per day, subject to a maximum of 0.04% of turnover.

In case of more than ₹5 crore and up to ₹20 crore, the fine will be ₹100 per day, subject to 0.04% of the turnover.

In another notification, the government clarified that any authority set up by the Central or state government, for the conduct of entrance examination for admission to educational institutions, "shall be treated as an educational institution for the limited purpose of providing services by way of conduct of entrance examination for admission to educational institutions". GST exemption available to educational institutions and central and state boards for organising entrance examinations will be available to the respective authority.