The prices of books may hike with the arrival of GST. The increased tax for paper and royalty has resulted in the price hike. According to GST the taxation is nil for books but it has applied 12% tax for paper and paper covers.
The rent for buildings has increased to 4% resulting in 18% of tax. Due to tax increase there are no other ways than to increase the price of books. One of the leading publishing house in India DC Books has suffered an additional lose of 2.5 crores due to GST.
Publishers points out that in Countries like America the services are never taxed and they collectively demands to follow such models and exclude the industry from this taxation. Or else the prices of books have to be increased which in turn will affect the industry adversely.