The high rate of GST (Goods and Services Tax) of 28% imposed on marble commodities resulted in a backlash as almost 800 odd marble processors, traders and polishers joined in a massive rally to protest against the tax regime a week ago in Udaipur.
For Classic Marble Company (CMC) which has been sourcing marble stones from more than 40 countries, GST is a silver lining in a dark cloud.
According to Amit Shah, MD, CMC, “I welcome the steps initiated by our Prime Minister (PM) Narendra Modi towards the transformation of our country. It definitely looks difficult on paper, but for players like us who want transparency in business, it would create healthy competition. Earlier, the VAT (value-added tax) was 13.5% in Mumbai, whereas in North India it was only 5%. With introduction of GST, every importer or manufacturer has to pay a uniform tax across the country. This creates a level-playing for all the players and is a reform for a great future. Although, the 28% GST slab is a high rate which the government should reconsider and to lower it to 18%. Representations from across the country have been made to the Finance Minister and the PM in this regard.”
( Kajol Tamang | Mumbai )