Granite and marble industry seeks review of GST rates

Granite and marble industry has sought review of GST rates on the sector as high taxes would impact its growth.
In a letter to Finance Minister Arun Jaitley, JIGANI Granite Industries Owners Welfare Association said the GST Council has imposed 28 per cent tax on the granite polished slabs, which is beyond the sustainable level of the industry.
"The high rate will increase the cost of the granite and marble slabs which is mainly used for flooring," it said in a statement.
The fall in demand due to high rates may lead to closure of small units, it added.
"Granite and marble slabs, processed domestically is a common man product and not a luxury good," it added.