NEW DELHI, Feb. 3 -- We are expecting a thorough examination and revision of GST rates of building materials. Rational and uniform GST rates should be brought to the forefront. For instance, cement is placed at 28% which exorbitantly high for retail consumers. The government should think of segregating the rates for a B2B consumer and a normal B2C consumer.
The government has recently hinted that all the building materials will be brought to a 5% GST slab. If the proposal is really executed, it will bring a big transformation to the construction sector. This will also ease the burden from the small traders. If this revision can be followed with other building materials such as sanitary ware, insulated wire and ceramic tiles; a reduction in...