GST Council will consider a proposal to slash the tax on cement from 28 to 18 per cent at its next meeting along with a ministerial panel report that proposes a reduction in rates in under-construction properties, including affordable homes. The government wants the GST reduction to benefit the end users in terms of lower prices.
Analysts said cement currently accounts for around a fifth of construction costs and a 10 percentage point reduction in the tax burden will significantly help buyers, boost demand and increase revenue collection.
Source: https://www.cemnet.com/News/story/165912/india-cement-gst-cut-on-the-agenda.html
