CMA expresses disappointment over retention of cement in 28% GST bracket
The Cement Manufacturers’ Association (CMA) has expressed disappointment over the exclusion of the product from the 200 items on which the Centre slashed the GST rate to 18 per cent from 28 per cent.
The retention of the cement in the 28 per cent GST bracket, along with luxury items such as washing machines and air conditioners, is quite unfortunate, CMA President Shailendra Chouksey said.
“This is a disappointment for the entire industry as cement is integral to the government’s key schemes such as housing for all, Swachh Bharat-related constructions and building of other key infrastructure projects,” he said in a statement.
In the biggest GST rejig yet, tax rates on over 200 items, ranging from chewing gum to chocolates, to beauty products, wigs and wrist watches, were today cut to provide relief to consumers and businesses amid economic slowdown. The top tax rate of 28 per cent is now restricted to luxury and demerit goods, including cement.
“Considering that our industry has the ability to contribute immensely towards employment and GDP growth, it would have been appropriate to place it, at least, under the 18 per cent slab,” Chouksey added.