Cement Stocks Slip as Government Fixes GST for Cement at 28%
Shital Jibhe / 07 Jun 2017
The Goods and Services Tax (GST) for cement has been fixed at a rate of 28%, which is slightly higher from the previous tax. However, experts believe that the revision in tax rates brought an additional benefit, as the GST on coal and metal ore has been reduced to 5%, reported a national news portal.
Other stocks in the index such as Barak Valley Cements was down by 3.6% at Rs 34.25 per share, Everest Industries was down by 3.3% at Rs 298.90 per share, Shiva Cement was down by 3.1% at Rs 20.30 per share and
Giants such as Ambuja Cements were down 1.9% at Rs 235.45 per share, JK Cement was down 2% at Rs 1068 per share and ACC was also trading down by 2.4% at Rs 1603 per share.
Visaka Industries, Orient Paper & Industries and Shree Digvijay Cement are some stocks that were trading in green on the BSE.
The Goods and Services Tax (GST) for cement has been fixed at a rate of 28%, which is slightly higher from the previous tax. However, experts believe that the revision in tax rates brought an additional benefit, as the GST on coal and metal ore has been reduced to 5%, reported a national news portal.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.