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India lowers GST rates on construction and household items to boost economy and affordability.
The Indian government has announced new GST rates that will benefit the housing and mining sectors, reducing costs for construction materials and household goods.
Items like marble, granite, and brass stoves will now have a 5% GST rate instead of 12%.
This will lower construction costs for low-cost housing, especially in rural areas, and make essential items more affordable for low-income families.
The changes, taking effect on September 22, also aim to boost domestic consumption and counteract US tariffs, though they will result in a net revenue loss of Rs.
48,000 crore.
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La India reduce las tasas de GST en la construcción y artículos domésticos para impulsar la economía y la asequibilidad.