Skip to main content

GST Rate for Construction and Building Materials

GST is set to roll out from 1st July 2017 in India, completely overhauling the indirect tax regime. The proposed GST is set to improve ease of doing business in India and reducing the tax burden by eliminating or integrating many of the tax codes. In this article, we look at the GST rate for building materials like cement, bricks, tiles, iron, steel and other materials used in construction.

Image result for gst on building tax
Image result for gst on building taxThe Goods and Services Tax (GST) rate of 12 percent will be applicable on under-construction properties. This rate with input tax credit seeks to remove the inefficiencies of dual taxation in the form of value-added taxation (VAT), service tax and puts an end to multiple taxes.
  • Natural sands of all kinds, whether or not colored, other than metal-bearing sands is classified under Chapter 26 of the HSN Code. GST rate for sand is fixed at 5%. Further, bitumen and asphalt, natural; bituminous or oil shale and tar sands; asphaltites and asphaltic rocks attract a GST rate of 18%.
  • Pebbles, gravel and crushed stone used in concrete is 5%. The following are HSN Code classification for gravel and crushed stone for which 5% GST rate is applicable:
    • Pebbles, gravel, broken or crushed stone, of a kind commonly used for concrete aggregates, for road metalling or for railway or other ballast, shingle and flint, whether or not heat-treated; macadam of slag, dross or similar industrial waste, whether or not incorporating the materials cited in the first part of the heading; tarred macadam; granules cheeping and powder of stones.
    • Limestone flux; limestone and other calcareous stone, of a kind used for the manufacture of lime or cement.
  • Marble and granite blocks attract a GST rate of 12%. On the other hand, marble, granite and travertine, in other than blocks attract a GST rate of 28%.
  • All types of portland cement, aluminous cement, slag cement, super sulfate cement and similar hydraulic cement, whether or not colored or in the form of clinkers would attract 28% GST. Cement is classified under chapter 25 of the HSN Code.
  • All iron and steel products are classified under chapter 72 of the HSN code and attract a uniform GST rate of 18%. Hence, iron blocks, wire, rolls, rods, etc used in construction attract 18% GST.
Get the Home under GST Here


Labels:

Comments

Post a Comment

Popular posts from this blog

Residential Villas in Kakkanad near Infopark

NOEL VILLAS IN KAKKANAD NOEL IVY CREEK Noel Ivy Creek is the premium resale villas in Kakkanad . It provides all the facilities for a modern homebuyer who seeks for a modern dream home. This project is the part of the suburban areas of  Kakkanad. The main advantage is that these villas are close near to the wide roads of Kakkanad where you have easy access to community utilities like schools, colleges, hospitals, recreational areas and parks. The facilities within the project are easy to use and functional. NOEL PALMDALE Noel Palmdale is located on Nilampathinjamugal Road, Kakkanad. It is one of the best luxury 3 BHK villas in Kakkanad which is in close proximity to many prestigious gated communities, reputed schools and colleges with affordable price. The project is well equipped with all modern amenities and 24X7 security service to facilitate the needs of the residents. NOEL HERITAGE Noel Heritage is the most prominent residential ...
3 comments
Read more

Apartments and Flats in Kakkanad near Infopark

Noel Ecotat Right at the heart of a lush green environment stands as one of the best luxury apartments in Kochi , Noel Ecotat . It is located in Edappally and Kakkanad. This completed project by one of the Top 10 builders in Kochi takes you closer to Nature to be soothed, healed and put your senses back in tune. Wake up to glistening shimmer of lakes and chirping of birds to start your day. Ecotat boasts its closeness to Nature and its serenity. With an extravagant lobby, pool, parking and other luxury facilities, this premium flat brings much pride to its residents. Taking a minimalistic and thespian advent, the colour scheme blends aptly into its locale with shades of brown. With no compromise gone into spacing, the rooms of each apartment are generous yet snug complete with every opulence making this a promising luxury flat . Noel Ectotat is one of the IGBC Gold Certified Apartments in Kakkanad equipped with advanced green features specified by the IGBC . Noel Ser...
4 comments
Read more

5 Steps to Decorate Your New Apartment

A beautiful apartment or flat is a dream of each person in this world and we are really working hard for it. Is it??? Yes... Each and every one of us has a well-planned home in our mind about the location, interior and exterior design, architecture, etc. When you move into your first apartment , you’re initially thrilled to finally have your own place and that all your stuff made the move intact. And will be thinking about how to decorate its interior differently. The furniture, curtains, kitchen appliances, lights, fans, ceilings, walls, bedroom and hall arrangements, etc are the main things that we have to consider while decorating a new apartment . Step 1: Find the look you like Before you buy any furniture, assess the pieces you already have and carefully plan each addition. Go online or look at some design catalogues to see which styles and colours you like. Do you want furniture that’s a dark wood, a blonde wood or perhaps metal or painted furniture? Do you like a ...
5 comments
Read more