Published on July 4, 2017

GST for the chemicals industry looks positive. In India Chemicals businesses have suffered from the added taxations on their production capacity as well as their consumption demands.

The pre GST taxations have impelled the rise in the production costs of manufacturing vital chemicals, which has resulted in the price-hike of the end products and made such goods unaffordable for gross consumption.

Now, the GST Bill is trusted for the inevitable progress of the Indian chemicals industry in the upcoming years.

The prime benefit of implementing the GST legislation is that it will integrate the chemicals market by decimating the tax complications grappling the interstate trade of chemical companies.

The mitigation of CGST and SGST will also lower the cascading effect of multiple taxations on the production capacity of chemical industries. Successful implementation of GST Bill can serve the long-term interests of the chemicals industry, said by industry players.