GST Rate Cut on Cement: Boosting India’s Infrastructure Growth
The GST rate reduction on cement from 28% to 18% aims to support domestic manufacturers and accelerate infrastructure development in India. The move is expected to enhance competitiveness, correct tax anomalies, and boost the economy, with industry leaders like CMA and Adani Cement expressing strong support for the change.
- Country:
- India
The Indian government's decision to slash the GST rate on cement from 28% to 18% is poised to invigorate domestic manufacturing and spur infrastructure development. This move, welcomed by industry stakeholders, is anticipated to enhance the competitive edge of the Indian cement industry on a global scale.
The Cement Manufacturers' Association (CMA) noted that cement was previously taxed at one of the highest rates among essential building materials. By aligning it with other core materials, the tax reduction addresses this disparity, promoting growth in infrastructure and housing sectors, according to CMA President Neeraj Akhoury.
In a statement, Adani Cement CEO Vinod Bahety described the reform as a catalyst for national infrastructure expansion and industrial growth, positioning India for its next era of economic development. This strategic policy shift aligns with ambitious infrastructure plans and provides structural relief for the real estate sector.
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- GST
- cement
- India
- infrastructure
- manufacturers
- competitiveness
- Adani
- CMA
- tax cut
- construction
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