Reducing GST on cement is the company's dream
As per report 28% GST is applicable on cement. On this, the cement industry says that GST on cement is very high, it should be reduced. A senior officer of JK lakshmi Cement said, "The government should reduce GST on cement from 28% to 18%. Also, some policy should be made in the next budget to promote its consumption."
When speaking to news agency PTI, Arun Shukla, President and director of JK lakshmi Cement said, in view of the increasing demand for cement in the country, there is a need to increase its manufacturing capacity. In the coming time, the demand for cement is likely to increase at an average rate of 7-8%. He said, "Reducing GST on cement is both our dream and desire." When asked in the meeting of 'Bihar business Connect 2024' what are the expectations of the country's industries from the upcoming budget? On this Arun Shukla said, "In our country, the highest GST of 28 percent is levied on cement. It needs to be reduced to 18 percent.'' He further said, ''Cement is also an important component in moving the country's economy forward because cement is necessary to build world class infrastructure, which is necessary to support the growth of the indian economy.''
Moreover Arun Shukla said, ''If cement is necessary for growth, then we should think about how we can increase its consumption?'' He also said, ''Cement concrete roads last longer and cost less to build them than bitumen roads, so I wish that some methods should be adopted or some policies should be made to increase the consumption of cement.'' The annual capacity of JK lakshmi Cement is 18 million tonnes and Arun Shukla wants to increase it to 30 million tonnes by the year 2030.