The construction industry has received a welcome boost through recent GST revisions. With reduced tax rates on essential building materials like cement and bricks, the reforms are expected to lower construction costs, enhance infrastructure development, and improve access to affordable housing and urban projects.
Construction Sector
(12% to 5%)
| S. No. | Chapter / Heading / Sub-heading / Tariff item | Description of Goods | ||||||||||||||||||||||||||||||||||||||||||||||||
| 1. | 68 | Sand lime bricks or Stone inlay work | ||||||||||||||||||||||||||||||||||||||||||||||||
(From 28% to 18%)
| S. No. | Chapter / Heading / Sub-heading / Tariff item |
Description of Goods | ||||||||||||||||||||||||||||||||||||||||||||||||
| 1. | 2523 | Portland cement, aluminous cement, slag cement, super sulphate cement and similar hydraulic cements, whether or not coloured or in the form of clinkers |
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Impact on businesses:
- For Builders & Developers: Reduced tax rates lower material costs, helping in cost estimation, project bidding, and affordability planning.
- For Homeowners: Affordable materials mean better access to housing and renovations without compromising on quality.
- For the Economy: Enhanced construction activities contribute to job creation, infrastructure growth, and urban development.
