NewsTop NewsTop Story Electric Fittings and Sanitary Ware stocks rise up in expectation of GST rate cut

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In the midst of GST council meeting held today in Guwahati, Assam, the electric fitting, sanitary ware stocks have gained on account of likely rate cut in the GST rate on the products.

The council aims to review 28% slab rate products and to place them under lower slabs of 18% and 12%. These include daily use items, electrical fittings, sanitary ware, detergents  and furniture.

Stocks like Crompton Greaves Consumer Electricals and Bajaj Electricals have gained around 4 to 6% during the days trade. These companies are into manufacturing of household appliances like fans, lights, electrical fittings and many other consumer products.

Sanitary ware and furniture stocks like Cera Sanitaryware, Murudeshwar Ceramics and Sheela Foam have gained around 2% in anticipation of GST rate cut.

The applicable GST rate on tiles and sanitaryware is 28%, and the industry expects it to be revised to 18%. The 28% is neutral for the industry, in line with the earlier tax slab. But the industry was expecting the applicable levy to be lowered to 18% to encourage more unorganised players to pay taxes. 

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