Cement rate cut to 18% on the agenda of GST meet

The GST Council will consider a proposal to slash the tax on cement to 18 per cent from 28 per cent at its meeting next week along with a ministerial panel report that proposes a cut in rates in under-construction properties, including affordable homes. A rate cut in cement to 18 per cent will lead to a loss of Rs 13,000 crore annually to the government. The Narendra Modi-government is keen to ens…