GST Reforms in Mining Sector to Boost Housing and Small-scale Enterprises

The 56th GST Council meeting in New Delhi, chaired by Finance Minister Nirmala Sitharaman, announced significant reductions in GST rates for various mining-related items. Key changes include lowering GST from 12% to 5% for marble, granite, sand lime bricks, and essential household items like aluminum milk cans and cooking utensils. These reforms aim to reduce construction costs, support small-scale enterprises, and promote affordable housing, particularly benefiting rural areas and low-income families. The changes are expected to enhance demand and competitiveness in the mining and handicraft sectors, aligning with the 'Make in India' initiative.

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