Several cement companies of the Northeast India have slashed cement prices by Rs 15 per bag to pass on GST benefits to its customers.
Star Cement, Dalmia Cement and Topcem Cement have made this reduction in cement prices effective from July 1. Other cement companies have also made similar announcement of rate deduction.
A person from the Cement industry said, “Cement is taxed at 28 percent in GST, while in earlier tax regime taking all taxes together, Cement attracted 31 to 32 percent tax. We have decided to pass on the benefit of 4 percent to the consumer.”