Impact of GST on the Cement Industry
According to the Goods and Services Tax Act of 2017, Cement is liable to GST at a rate of 28%. With a Compound Annual Growth Rate of 4.94 percent from 2023 to 2028, the sector is expected to reach 4,832.6 million tonnes. Limestone, coal, and power are the three basic raw resources utilised in the production of Cement.