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The government has missed out on an opportunity to spur growth of the struggling cement and housing segment by putting the commodity at the highest tax slab of 28 per cent under GST, according to industry body CMA.
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Updated : May 28, 2017, 02:03 PM IST
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The government has missed out on an opportunity to spur growth of the struggling cement and housing segment by putting the commodity at the highest tax slab of 28 per cent under GST, according to industry body CMA.
The Cement Manufacturers Association (CMA) also lamented that tax incidence on cement in India, which is the highest in Asia Pacific, has affected the health of the industry that is witnessing only 70 per cent of capacity utilisation due to low demand.
"On a 50 kg bag of cement costing Rs 300, Rs 180 is tax plus cost of logistics. This is also an industry which is very capital intensive with low margins. GST was an opportunity to provide relief to the industry but has been missed," CMA president Shailendra Chouksey told
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
