Friday, 19 May 2017

GST rate of 5% on coal to stabilize steel prices

The Indian Government has said that fixing of the GST rate on coal at 5 percent will lead to stabilization of steel prices.The GST Council has decided to keep coal in the 5 per cent tax slab under the new sales tax regime against current tax incidence of 11.69 percent.

Commenting on the issue, Steel Secretary Aruna Sharma told the media, "That (five percent) is the lowest slab and would amount to stabilization of steel prices."

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