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Post the announcement of GST, the expected 18% GST rate by various cement firms seem to have bounced up by a heavy rate to the 28% slot. Even after this, the cement makers can feel relieved by the tax payout. The effective tax rate for packaged cement is 29-31%. If one was to look at the raw materials, the taxes on coal, limestone and lignite have been cut to 5%. The problem arises, however, with many cement firms using high proportions of imported petroleum coke in their fuel mix. However, a clean energy cess on coal and royalty to states for quarrying limestone remains presently.
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