Steel industry to marginally benefit from GST

Govt ready to provide protection to domestic pipe manufacturers against unfair trade practices

Premium

Petroleum pipeline

BS B2B Bureau New Delhi

Last Updated : Jun 14 2017 | 5:39 PM IST

The impact of goods and services tax (GST) on steel industry will be ‘marginally beneficial’, with raw material duty coming down by 1-1.5 per cent, according to Syedain Abbasi, joint secretary, Ministry of Steel. “Even in steel products while it is 18 per cent but a lot of double taxation has been moved out then again there will be an impact of 1-1.15 per cent,” he said at an Assocham conference in New Delhi.

The Union Government has categorically stated that it is willing to provide protection to the domestic pipe manufacturers against unfair trade practices. “While we are willing to

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in