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GST Impact on Construction Materials | ConstroBazaar

GST effect on construction materials like all types of natural sands, stone, cement, concrete, bricks & blocks, various types of tiles, different types of aluminum, steel or iron materials or product used in construction.

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GST Impact on Construction Materials | ConstroBazaar

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  1. What is GST? • GST is single unified indirect tax system & it unifies India as one marketplace. • GST replaces VAT, Central Sales Tax, Service Tax, Purchase Tax, Excise Duty, CAD, SAD, Octroi, Entry Tax, Luxury Tax, Cess etc. • As GST is now applicable for every service & product. • It impacted construction industry and its products thoroughly to bring more transparency. • Let’s see the effect on the construction industry and its products

  2. Prices Fall after GST • Production costs are reduced as a result of lower tax rate of 5% at the essential inputs like coal and iron ore. • Similarly, the input availability of raw material purchase reduces the tax further. • Additionally, logistics expenses may even become less owing to the removal of entry taxes ensuring quicker movement of goods.

  3. Prices Rise after GST • Smaller unorganized producers and dealers had the gain of certain tax exemption, but these exemptions will discontinue and all organizations are ought to levy uniform taxes on comparable products after GST implementation. • This could bring about the upward push in entering charges for all shoppers who used to purchase items from such producers.

  4. Table below shows the impact in percentage of GST on construction material

  5. GST on Sand, Stone • All types of natural sands (M Sand, River Sand, Crush Sand etc.) and Crushed Stones have a fixed amount of 5% GST. • Different stones utilized in construction like porphyry, basalt, sandstone and different huge or building stone, both in blocks and slabs attracts GST at 5%.

  6. GST on Cement • All kind of cement including grey cement, white cement, portland cement, aluminous cement, slag cement, super sulphate cement etc. attract 28% GST.

  7. GST on Iron & Steel • All products of Iron & Steel like iron blocks, wires, rolls, rods etc. used in construction is having 18% GST rate.

  8. GST on Bricks • As bricks used for the construction of a building is made of different raw materials, also has different GST rates. • Cement bricks, glass-based paving blocks attract 28% of GST rate. • Refractory blocks, bricks & similar construction related ceramic goods have GST rate of 18%. • 12% GST rate sets for fly ash bricks and sand-lime bricks. • Bricks of fossil meals and similar siliceous have 5% of GST rate.

  9. GST on Tiles Likewise, bricks, building tiles also made from different materials have different GST rates. • Tiles used for roofing are having 5% rate of GST. • Ceramic tiles are having 18% rate of GST. • Marble, granite tiles and cement tiles for mosaic attract 28% of GST rate.

  10. THANK YOU !!!

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