GST on Cement: Currently 28 percent 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 percent to 18 percent. Also, some policies should be made in the next budget to promote its consumption.
GST incident on cement company’s dream
Speaking to news agency PTI, Arun Shukla, President and Director of JK Lakshmi Cement, said that 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 percent. He said, “Reducing GST on cement is both a dream and a wish of ours.”
Cement is necessary for economy growth
In the meeting of ‘Bihar Business Connect 2024’, when it was asked what expectations the country’s industries have from the upcoming budget? On this, Arun Shukla said, “In our country, the highest GST on cement is 28 percent.” It needs to be reduced to 18 percent.” He further said, “Cement is also an important component in taking the country’s economy forward because cement is essential in creating world class infrastructure, which will support the growth of the Indian economy. It is necessary for.
Cement roads more durable
Arun Shukla said, “If cement is necessary for growth, then we should think that how can we increase its consumption?” He also said, “Cement concrete roads last longer and bitumen roads do not last long. In comparison, the cost of making them is also less, hence my wish is 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 annually We want to increase it to 30 million tonnes by 2030.
JK Lakshmi plant in Bihar
JK Lakshmi Cement, part of JK Organization, is going to invest Rs 500 crore to set up a manufacturing unit in Madhubani district of Bihar. Bharat Hari Singhania of the Singhania family, who is heading the company, had signed an MoU with the Bihar government in the investors’ meet in the year 2023 to build this unit.
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