Although the winter session could be a washout in term so passage of goods and services tax (GST) but there is a hope that GST could be a reality in 2016. CNBC-TV18's Menaka Doshi in a special series 'Hello GST' analysis the impact of GST on the cement industry and the bill may not prove to be a positive for the industry. Following the ...
Cement Sector is one of the important sectors contributing towards growth of Industry, Infrastructure as well as Housing Sectors. It contributes significantly towards Indirect Tax revenues of the Central and State Governments, besides creating direct and indirect employment opportunities.
The Goods and Services Tax (GST) is an indirect tax that is levied on taxable supplies of goods and services. The Indian government officially implemented the GST system on 1st July 2017 on the supplies made in and out of the country.
India: The Cement Manufacturers Association (CMA) says it is disappointed for the entire industry following the Goods and Services Tax (GST) Council's decision to retain cement in a higher tax rate. The GST Council has reduced the tax rate on a wide range of commonly used items, from chewing gum to detergents, to 18% from 28%, according to the Press Trust of India. However, cement, along ...
Cement is a commodity business and sales volumes mostly depend upon the quality perception and distribution reach of the company. There is intense competition with players cashing in on quality and expanding reach to achieve pan India presence.
Cement industry seeks status quo on excise duty, service tax February 23, 2010 14:47 IST T he fall in cement prices and improving demand together add cream to the cement product sector, who seek ...
Updated New GST tax slab rates list Jan 2019 for different goods and services. Check out the GST slabs rates in India and list of all items at Wishfin.
The Cement industry, being a core sector industry, producing the basic construction material essential for any construction activity, be it infrastructure, hospitals, housing, community development projects etc., plays a lead role in country's economic development and hence deserves due support from
Although a large section of the industry has expressed its wishlist for the general Budget, a review of service tax tops the demand with several quarter petitioning reduction in the rate from 10 per cent to about eight per cent in the indirect tax to bolster sagging demand for industrial goods and services.
This statistic represents the size of the global cement market in 2011 and 2016. In 2016, the global cement market was sized at about 395 billion U.S. dollars. Cement is an important building ...
NEW DELHI: The aviation and tourism committee of the Indian Chamber of Commerce and Industry has approached the government on the issue of levying service tax on 60% of the total invoice value for tour operators from January 22.
Although the winter session could be a washout in term so passage of goods and services tax (GST) but there is a hope that GST could be a reality in 2016. CNBC-TV18's Menaka Doshi in a special ...
India's Goods and Service Tax (GST) council may consider moving construction items, such as cement, out of its highest tax band of 28 per cent in its meeting next week, according to The Economic Times. Cement is one of 35 items left in the band which is primarily used to tax luxury items. Cutting
Issues in Cement Industry. It is expected that the transition to GST would impact the cement industry due to certain issues that may need due consideration by the Central Government, and Empowered Committee and suitably addressed.
The implementation of GST in the country will somehow create a menace in the cement industry. GST council has decided a heavy tax rates over cement industry of 28 percent which seems to overburden the sector with already prevailing tax entities and under developing area in the urbanization.
The cement industry is also expected to benefit from lower costs of logistics, overall, a decrease in cement prices is expected if GST is imposed 18% which is expected. Goods and Service Tax (GST) rate tariff in India is designed in 6 categories of goods and services.
2010-02-23· Cement industry seeks status quo on excise duty, service tax February 23, 2010 14:47 IST T he fall in cement prices and improving demand together add cream to the cement product sector, who seek status quo on excise duty and service taxes.
issues in cement industry under gst regime. issues in cement industry under gst regime, goods and services tax gst
VICTORIA, Feb. 17, 2015 /CNW/ - The Cement Association of Canada (CAC) welcomes the B.C. government's efforts to improve the Province's carbon tax. The B.C. Carbon Tax is applied only to ...
B.C.'s current carbon tax of $30 per tonne led to a surge in deliveries of overseas cement and prompted a $22-million government handout last year to stem the bleeding.
Australia: Industry groups, including cement producers, are lobbying against a new import tax, the Biosecurity Imports Levy. They allege that that new tariff will increase costs by 3000 - 5000% on the inputs for cement, steel and aluminium production, according to the Australian newspaper.
Given the government's thrust on infrastructure and allied activities, cement makers were hoping for 18% goods and services tax (GST). Unfortunately, the sector was categorized in the highest ...
Tax Services | Deloitte US | Tax by Industry. Tax by industry Deloitte Tax LLP practitioners have extensive experience in a wide array of industries and understand the tax implications of specific sector trends, including the exposure you may face and the opportunities available to reduce your tax burden.
Service Tax is a tax which is payable on services provided by the service provider. Just like Excise duty is payable on goods which are manufactured, similarly Service Tax is payable on Services provided.
Commonly used items such as air conditioners, digital cameras and cement may be removed from the 28-percent bracket of the goods and services tax when the GST Council meets on Dec. 22 to rationalise the indirect tax further, according to two people with direct knowledge of the matter.
2 · Marginalized Filipinos looking to live in socialized housing might have to pay more for a home as construction costs might spike due to a government move to further tax imported cement.
One key feature of the cement industry is that government agencies are key consumers of the product for various infrastructure projects and if the benefit of a goods and services tax (GST) cut is ...
GST: Impact of Goods ans Service Tax on the Cement Industry of India . Indian Cement industry is World's second largest cement producer with an aim to grow at a CAGR of 11.14% in volume terms during FY 2011-FY 2017.
The Cement Association of Canada (CAC) is again calling on the B.C. government to change how the carbon tax is applied to the cement sector. Local producers have lost nearly a third of the market share to imports since the carbon tax began in 2008.