PLY NEWS | November 2017
GST rates slashed from 28% to 18%
he GST council on Friday, after a long struggle of the association, brought down the rates of GST from 28% to 18%. This relaxation of charges will benefit both the consumer and businessman alike. This will also boost up the economy as the consumption will boost up with the better compliance due to simpler and less taxing scheme. This relaxation will further make the products cheaper by another 10%. The cheaper plywood product can be used a larger section in different application replacing again the plastic or metal furniture. The consumer will be easily convinced on 18% tax by the dealers and retailers which would have been difficult in case of Non-GST registered user.
Further, for the dealers, it will be easy for lifting and stocking material. This is definitely a big relief and will boost up the market. The market movement will be restored as the demand and supply of goods will begin with the same pace.
The mid-sized companies in plywood, laminates, ACP, WPC, doors, furniture and other related products will have a definite market boost up as they will be able to stock up the raw material and deliver the end product with the same pace.