Will The Tax Rates Of Cement Be Reduced?
the GST Council is worried that a rate cut would lead to a dramatic drop in revenue.
the GST Council may decide to ease restri
ctions on the automobile industry and millet-based products.
Please be advised that the GST Council's 49th meeting will take place in Delhi on February
lowering GST prices on cement is unlikely to happen anytime soon.
Massive losses may result if the GST rate on cement is lowered from 28% to 18%.
Some estimates put the potential annual loss in revenue at around Rs 16,000 crore due to the reduction o
f GST rates on cement.
As a result of the fear of such a catastrophic loss, international cooperation suffers in this scenario.