Now here we are writing about the GST effect on cement industry, what are the advantages and downfall comes, is it good or bad everything explained here:
TAX SLABS FOR CEMENT INDUSTRY: As before GST there are many kinds of taxes here on cement industry but with GST there is uniform tax structure with clear tax percentage,clearly explained here:
TAX SLABS FOR CEMENT INDUSTRY: As before GST there are many kinds of taxes here on cement industry but with GST there is uniform tax structure with clear tax percentage,clearly explained here:
- Mortars, refractory cement, concrete have 18% GST now.
- Cement Bonded Particle have 12% GST now.
- Lime stone now have 5% GST.
- Coal have only 5% GST previously tax on coal is around 12%.
EFFECTS ON CEMENT INDUSTRY:
- WAREHOUSING: Supply chain management get boost as with GST no extra tax have to be paid and state wise warehousing get all the benefits. No need to have warehouse in every state as reduction in supply chain management causes cheaper warehousing also.
- REDUCTION IN TRANSPORT COST: Now cement industry price effected or generally depends on transportation as cost become high if transport charges are high, but in GST cost of transport is not high as there are no extra tax here so reduction in transport cost have positive impact on cement industry pricing.
- MULTIPLE TAXES NOW REDUCED: Here now multiple taxes comes before GST but there is no extra tax here with GST simple and unique way to handle all the tax structure removes multiple taxes and give a single tax structure for all.
The summary or conclusion comes out as the other extra costing becoming low now a days so as the pricing of cement industry also reduced and it changes as time changes.
सीमेंट उद्योग पर जीएसटी का प्रभाव: सर्वश्रेष्ठ जीएसटी सॉफ़्टवेयर
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