Displaying items by tag: Goods and Services Tax Council

India: The Goods and Services Tax (GST) Council has approved a reduction in GST on cement, lowering the rate from 28% to 18%. The new rate will come into effect from 22 September 2025, a move expected to reduce capital costs for infrastructure projects and improve cash flows for developers. The structural boost is expected to accelerate cement demand growth to 8–9% per year over the next two financial years from 6-8% previously estimated.

India: The Goods and Services Tax Council will review the current imposition of a 28% goods and services tax on cement on 11 July 2023. The Telegraph newspaper has reported that the council is expected to recommend a reduction in the tax rate to the 18% band. Parliament’s Group of Ministers on Rate Rationalisation will then consider the recommendation.