Marble Industry Gst

New delhi jun 19 pti granite and marble industry has sought review of gst rates on the sector as high taxes would impact its growth.

Marble industry gst.

So marble traders went on strike to reduce the gst rate from 28 to 5. Marble mining and trading industry is back in action. But now everything is normal. Pointing out that gst council has proposed 12 percent gst on granite and marble raw blocks and 28 percent gst on finished products rao said that such high rates of gst will have a detrimental effect on demand and growth of granite and marble industry negative impact on trade and reducing the employment potentially leading to closing down of.

The owners of the marble factories tuesday closed down units in protest against the heavy general sales tax imposed by the federal government addressing a press conference at the rashakai. It is estimated that over 50 000 crore is invested in the marble industry in the state. Mukesh khetan director of khetan tiles expressed his view to india today the condition of the marble industry is very bad since the time this gst pattern of government has come. When there was vat on marble then the taxation was 5 per cent.

After gst he will now have to pay 28 000 as tax for the same amount of marble purchased added garg. According to the reports of the state department of mines and geology there is a huge 30 shortening of workers from the past years while the productions also got hit by 12 straight after the implementation of gst. The marble industry is going through some of the very bad phases and had to lay off several employees to get rid of debts. Granite and marble industry has sought review of gst rates on the sector as high taxes would impact its growth.

Now with the gst on marble fixed at 28 from the current tax rate of 5 under the new indirect tax regime marble industry is sure to meet its end claimed traders who raised slogans during the. Gst rate of 28 can kill this industry. Since gst resume came then 28 per cent was imposed the tax was very heavy.