UltraTech Cement has reduced prices of its products by 2-3 per cent, extending benefits of a tax reduction under the countrys Goods and Service Tax (GST) regime, local press report.
The company has started the supply of batches from its warehouses on new rates effective 1 July, when the new tax structure came into force.
Cement has been taxed at 28 per cent under the GST as compared to 30-31 per cent in the previous taxation system. The reduction in prices would vary from state to state. (Source: Fintech)
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