Mumbai, Sept. 11 -- Ministry of Mines has stated in a latest update that latest GST Reforms in Mining Sector are set to Boost Housing and Small-scale Enterprises. The 56th meeting of the GST Council made recommendations relating to changes in GST tax rates, to provide relief to individuals, common man, aspirational middle class and measures for facilitation of trade in GST. The new GST rates and slabs for items related to mining sector will have a positive impact on housing industry and small-scale enterprises.

Under the new rates, Marble and travertine blocks and Granite Blocks will now attract GST rate of 5% compared to the earlier rate of 12%. This reduction in GST rates will benefit the housing sector as these marble and granite are ...