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The 56th meeting of the GST Council held in New Delhi under the chairpersonship of the Union Finance Corporate Affairs Minister Smt. Nirmala Sitharaman made recommendations relating to changes in GST tax rates, to provide relief to individuals, common man, aspirational middle class and measures for
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GST rates on marble, travertine blocks, and granite blocks have been reduced from 12% to 5%. Additionally, GST on sand lime bricks and stone inlay work has also been lowered to 5% from 12%.
The reduction in GST rates for marble, granite, and sand lime bricks, which are key materials in housing construction, will lower overall building costs, particularly for low-cost housing.
GST rates have been reduced from 12% to 5% for milk cans made of aluminium, and table, kitchen, or other household articles made of copper and aluminium.
Lower GST rates on handicrafts made of brass, copper, and aluminium, as well as on utensils, will increase their competitiveness, expand customer bases, and boost demand for their products.
Yes, the GST rate for the multimodal transport of goods within India has been reduced from 12% to 5% (with restricted credit), which will particularly benefit the mining and mineral industry, especially for long-distance movements like iron ore.
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