GST to be a game changer for steel industry: ISSDA

The GST regime will be a game changer for stainless steel industry, as it is expected to simplify compliance mechanisms and curb parallel economy, industry body ISSDA has said.

The apex stainless steel industry body has also urged the government to include electricity, furnace oil and natural gas, which are key inputs for production of stainless steel into the scope of Goods and Services Tax (GST), scheduled to be rolled out from July 1.

"The GST regime will be a game changer for stainless steel industry. The new tax structure will not only enhance the ease of doing business by simplifying compliance mechanisms but would also curb the parallel economy by bringing in more transparency," Indian Stainless Steel Development Association President K K Pahuja told

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)