varun teja impex

granite and Minerals exporter

GST Effect on Indian Granite Industry

The recent implemented Goods and Service Tax (GST) in India with high rate of taxes has come as a severe blow to the granite industry, which is already in crisis with the decline in the exports to the international markets The GST Council, which met in Srinagar, had announced a tax of 28 % on the polished granite and 12 % on the raw blocks.



Details of GST in India (2017)

The Goods and Services Tax (GST) has been one of the key things that has caught the attention of the market given its implications on earnings of companies. The government has kept a large number of items under 18% tax slab. The government categorised 1211 items under various tax slabs.