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Relief for cement cos, but demand stalls
Mint Mumbai
|September 05, 2025
The Goods and Services Tax (GST) Council has slashed the rate on cement from 28% to 18%, a move aimed at boosting construction activity.
"...because cement is so essential for the middle class when building homes, that is why the 28% has been reduced to 18%," finance minister Nirmala Sitharaman said late Wednesday while addressing the media after the GST Council meeting. The change will be effective from 22 September.
The decision, a long-pending demand of the industry and consumer groups, is expected to reduce the effective billing price of cement by nearly ₹30 per bag, according to a 24 August Yes Securities note.
The two largest cement makers, Aditya Birla Group's UltraTech Cement Ltd and Adani group's Ambuja Cements, closed 0.64% and 1.05% lower on the stock exchange, even as the benchmark Nifty closed almost unchanged.
This story is from the September 05, 2025 edition of Mint Mumbai.
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