India’s GST council may cut tax on cement

18-December-2018

India’s Goods and Service Tax (GST) council may consider moving construction items, such as cement, out of its highest tax band of 28 per cent in its meeting next week, according to The Economic Times.

Cement is one of 35 items left in the band which is primarily used to tax luxury items. Cutting the GST rate on the material is expected to provide a boost to the housing and construction industry.

“While a general expectation has always been for restricting the 28 per cent rate list to only luxury/sin goods, before a further pruning of this list, the government may coherently analyse the revenue impact of the same,” said EY Tax Partner, Abhishek Jain.

Source: CEMNET