India: The Cement Manufacturers Association (CMA) says it is disappointed for the entire industry following the Goods and Services Tax (GST) Council’s decision to retain cement in a higher tax rate. The GST Council has reduced the tax rate on a wide range of commonly used items, from chewing gum to detergents, to 18% from 28%, according to the Press Trust of India. However, cement, along with paints, has remained at the 28% rate, despite the expectations of the cement industry.
"The retention of the cement in the 28% GST bracket, along with luxury items such as washing machines and air conditioners is quite unfortunate," said CMA President Shailendra Chouksey. He added that cutting the tax rate of cement could have hastened the recovery of the industry from a current slow period.