Indian Copper Producers Seek GST Cut to 5 Percent
Major Indian copper producers have asked the government to reduce the goods and services tax on copper products. The industry argues that the current rate locks up vital working capital amid rising metal prices.
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India's leading copper producers urged the government during Tuesday's morning session to lower the indirect goods and services tax on copper products to 5% from 18%. The petition argues that the current levy locks up over 490 billion rupees ($5.11B) in working capital.
