Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.0
Article rating: No rating
Article rating: 4.0
Article rating: 5.0
Article rating: No rating
Article rating: 4.0
Article rating: 3.8
Article rating: 2.9
Article rating: 2.3
Article rating: No rating
Article rating: No rating
Article rating: 4.0
Article rating: No rating
RSS

News

Construction equipment industry remains bullish on growth, seeks lower GST

Author: IANS/Wednesday, November 1, 2017/Categories: Infrastructure

Construction equipment industry remains bullish on growth, seeks lower GST

Kolkata - The construction equipment industry, which has approached the central government to lower the Goods and Service Tax (GST) rates to push demand up, remained bullish on its future growth prospects on the back of the government initiative to boost road construction.

"We are quite bullish on the growth prospects of the industry. The construction equipment business has been growing and this year we expect 30% growth," said Anand Sunderasan, member of the CII Excon 2017 - a construction equipment summit to be organised in Bengaluru November 12-16.

During a roadshow for the summit here, he said the industry has approached the Central government to reconsider the high tax rates applicable to most of the industry under GST.

"We have informed the government from different forums that 80% of the construction equipment are falling under 28% GST. In the past, taxes were around 15-18%," he said adding that the consumers would have to factor in the higher tax rate.

There were implementation challenges in July, but the industry has since recovered, he added.

The Central government announced an outlay of Rs 6.92 lakh crore over the next five years towards construction of 83,677 km of roads, which would likely result in higher purchase and lease of construction equipment.

Print Rate this article:
No rating

Number of views (149)/Comments (0)

rajyashree guha

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free