Passing on the benefit of budget tax reductions to schoolchildren, the National Book Traders Association has announced a decision to slash the prices of exercise books by 18% from December 1. The association's President, Gamini Moragoda, disclosed this to the media during a special press conference.
Key Points
- Presenting the 2027 Budget yesterday, the President stated that the 18% VAT imposed on books would be removed.
- The National Book Traders Association has decided to reduce exercise book prices by 18% from December 1.
- It is noted that this will save nearly Rs. 2,000 on a book list worth Rs. 10,000.
Passing budget relief to the public
The President pointed out that while presenting the 2027 Budget to Parliament yesterday, the President announced the removal of the 18% VAT previously levied on books, a decision he commended greatly.
He stated that although it remains unclear when the government's decision will be implemented legally, his association took steps to reduce book prices by 18% from December 1 to provide immediate relief to the public.
Explaining the price reduction in simpler terms, he noted that purchasing an average book list valued at Rs. 10,000 would allow parents to save nearly Rs. 2,000 as a result.
What happens next?
Prices of books, including exercise books, will decrease by 18% with effect from December 1.
