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Coal in lowest tax slab, steel prices to remain stable
Fixing of the GST rate on coal at 5 per cent will lead to stabilisation of steel prices, a top official said on Thursday
The GST Council today decided to keep coal in the 5 per cent tax slab under the new sales tax regime against current tax incidence of 11.69 per cent.Welcoming the decision, Steel Secretary Aruna Sharma told PTI, “That (five per cent) is the lowest slab and would amount to stabilisation of steel prices.” The move will bring down the input cost and would lead to stabilisation of prices, and more and more expansion of steel plants would take place, the secretary said.
The steel sector will be benefited from the move, an industry analyst said. Driven by weak demand, companies operating in the steel sector rolled over their prices this month in spite of a cost push, another analyst said. A producer said the demand was too weak to pass on any hike in prices of raw material.
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Sunday EditionView All
18 Mar 2018 | PNS
AAI conducts international workshop for utilizing GAGAN In keeping with the Prime Minister’s objective of using technology as a means of development and co-operation, Airports Authority of India has now offered GPS-aided Geo Augmented Navigation (GAGAN) to SAARC and Southeast Asian countries in order to allow them to reap the significant benefits that accrue from such an advanced navigation system. AAI conducted a two-day workshop on March 15 and 16, 2018...
STATE EDITIONSView All
19 Mar 2018 | Staff Reporter | Bhopal
Leader of the Opposition in the state assembly Ajay Singh said that the claims of women well-wisher Chief Minister Shivraj Singh are deceiving as miscreants with minor offences are arrested with immediate effect, but in the matter related to a minister's son, Chouhan says enquiry would be conducted He further alleged that prime facie, minister's son was responsible for Preeti Raghuvanshi’s suicide. Chief Minister Shivraj Singh Chouhan today instructed police officials to...