GST Rate Cuts On Goods & Services To Reduce Housing Costs, Support Msmes & Rural Households

(MENAFN- KNN India) New Delhi, Sep 11 (KNN) GST rate cuts on various goods and services are intended to reduce construction costs, ease household spending, and aid small enterprises.

These changes are expected to benefit the housing sector, rural households, and mining- and mineral-related industries.

The recommendations are part of a broader effort to provide relief to individuals, the middle class, and enterprises while facilitating trade under GST.

Among the key changes, GST on marble, travertine, and granite blocks has been reduced from 12 per cent to 5 per cent, a move expected to lower housing construction costs, particularly in states such as Rajasthan, Gujarat, and Karnataka.

Sand lime bricks and stone inlay work will also fall under the 5 per cent slab, providing cost relief for low-cost housing, especially in rural areas.

Household essentials such as aluminium milk cans, copper and aluminium kitchenware, and utensils will now attract a 5 per cent tax rate instead of 12 per cent.

The reduction is expected to increase demand, encourage a shift from plastic alternatives, and benefit MSMEs engaged in their manufacture.

In addition, brass kerosene pressure stoves will now be taxed at 5 per cent, a step aimed at supporting rural and low-income households.

Handicrafts made from brass, copper, and aluminium have also been moved to the 5 per cent slab, which is expected to enhance competitiveness for artisans and small-scale producers while promoting traditional craftsmanship and the 'Make in India' initiative.

On the services side, GST on multimodal transport of goods within India has been reduced from 12 per cent to 5 per cent (with restricted credit), a measure likely to cut logistics costs in the mining and mineral sector, particularly for long-distance transport of iron ore.

(KNN Bureau)

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