GST Council to Decide Cement Tax Rate After Expert Analysis
ECONOMY & POLICY

GST Council to Decide Cement Tax Rate After Expert Analysis

The head of the Central Board of Indirect Taxes and Customs said on Friday that when an expert committee makes its recommendation, the Goods and Services Tax (GST) Council of India will decide whether to lower tax rates on cement.

The fitment committee, which examines the consequences of rate adjustments, will meet to discuss and finalise its report on the elimination of a 28% GST rate on cement before submitting it to the council, according to its chairperson Vivek Johri.

The GST Council, the last judge in such matters and chaired by Finance Minister Nirmala Sitharaman, will meet on February 18.

The agenda for the meeting on February 18 is still being finalised, according to Vivek. According to the finance minister, the 28% GST on cement needs to be examined, Johri told reporters in New Delhi.

The government is considering the cement industry's request for a cut in the GST rate, according to Nirmala Sitharaman's recent statement. Vivek's comment makes it clear that this would be covered in the future GST Council meeting. Cement prices have increased dramatically as a result of the adoption of a 28 percent GST.

To help the ordinary public, the government should reduce the GST rate on cement. The cement business asserts that although it is a common consumer commodity, input tax credits are not granted.

The commercial sector or governments, on the other hand, use cement in considerable amounts and are thus qualified for input tax credits. Lowering the GST rates, according to the business community, will benefit the average individual.

The GST council's 49th meeting can make a number of important decisions. Regarding the GST tribunal and online gambling tax rates, a substantial announcement is anticipated. The Finance Act may be changed, according to CBIC Chairman Johri, to relieve small business owners from having to register for ST when making online purchases.

The head of the Central Board of Indirect Taxes and Customs said on Friday that when an expert committee makes its recommendation, the Goods and Services Tax (GST) Council of India will decide whether to lower tax rates on cement. The fitment committee, which examines the consequences of rate adjustments, will meet to discuss and finalise its report on the elimination of a 28% GST rate on cement before submitting it to the council, according to its chairperson Vivek Johri. The GST Council, the last judge in such matters and chaired by Finance Minister Nirmala Sitharaman, will meet on February 18. The agenda for the meeting on February 18 is still being finalised, according to Vivek. According to the finance minister, the 28% GST on cement needs to be examined, Johri told reporters in New Delhi. The government is considering the cement industry's request for a cut in the GST rate, according to Nirmala Sitharaman's recent statement. Vivek's comment makes it clear that this would be covered in the future GST Council meeting. Cement prices have increased dramatically as a result of the adoption of a 28 percent GST. To help the ordinary public, the government should reduce the GST rate on cement. The cement business asserts that although it is a common consumer commodity, input tax credits are not granted. The commercial sector or governments, on the other hand, use cement in considerable amounts and are thus qualified for input tax credits. Lowering the GST rates, according to the business community, will benefit the average individual. The GST council's 49th meeting can make a number of important decisions. Regarding the GST tribunal and online gambling tax rates, a substantial announcement is anticipated. The Finance Act may be changed, according to CBIC Chairman Johri, to relieve small business owners from having to register for ST when making online purchases.

Next Story
Infrastructure Urban

SEAMEC Awards Diving Services Contract to Adsun Offshore

SEAMEC Limited has awarded a diving services contract worth approximately Rs 248 (USD two point nine eight million) to Adsun Offshore Diving Contractors Private Limited. The contract will support Oil and Natural Gas Corporation Limited’s Pipeline Replacement Project VIII and the Daman Upside Development Project.The services to be provided include jacket face surveys, riser removals, free span corrections, and installation of bow strings and clamps. Work will be carried out aboard the vessel SEAMEC PRINCESS during the working seasons of financial years 2024-25 and 2025-26.The award was finali..

Next Story
Real Estate

Trinity Awards Rs 5.1 Bn Luxury Housing Contract to BL Kashyap

Real estate developer Trinity has awarded a construction contract worth Rs 5.1 billion to BL Kashyap and Sons Limited for its luxury residential project, Sky Palazzo Residences, in Sector 88B, Gurugram.The project is positioned as a premium living development in one of Gurugram’s key urban corridors. It reinforces Trinity’s focus on delivering high-end homes tailored to evolving buyer expectations.The contract highlights BL Kashyap’s continued presence in the National Capital Region, a region seen as crucial for infrastructure-led real estate growth. The company’s expertise in resident..

Next Story
Infrastructure Energy

VFlowTech Raises Rs 1.7 Bn to Boost Battery Ops in India

Singapore-based energy storage firm VFlowTech has raised Rs one point seven billion (USD twenty point five million) to expand its operations in India. The funding round, led by Granite Asia, will support the upgrade of its one hundred megawatt-hour plant into a gigafactory and scale deployment of Vanadium Redox Flow Batteries.Investors include Antares Ventures, EDBI, MOL PLUS, PSA Ventures, and existing backers like İnci Holding, UntroD Capital, and Wavemaker Partners.The company plans to enhance its engineering and research workforce, and roll out locally manufactured battery energy storage ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?