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Nov 10, 2017 09:51 PM IST | Source: PTI

Retention of cement in 28% GST slab unfortunate: Cement Manufacturers' Association

"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.

The Cement Manufacturers' Association (CMA) expressed disappointment over the exclusion of the product from the 200 items on which the Centre slashed the GST rate to 18 percent from 28 percent.

The retention of the cement in the 28 percent 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 the economic slowdown.

The top tax rate of 28 percent 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 percent slab," Chouksey added.

tags #Economy #GST

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