Nagpur: Sanjay K. Agrawal, President of the Steel & Hardware Chamber of Vidarbha (SHCV), welcomed the landmark decisions announced by the GST Council on rate rationalization, calling them transformative for the iron, steel, and allied industries.

Agrawal, however, flagged concerns over the increase in GST on Goods Transport Agency (GTA) services from 12% to 18%. He said logistics form a significant cost component in the steel and hardware business, and though input credit will be available, the higher working capital requirement could strain small and medium enterprises.

On the positive side, the reduction of GST on cement from 28% to 18% was described as a long-awaited and highly beneficial move. Agrawal noted this would directly lower construction and infrastructure project costs, thereby stimulating demand for steel and hardware products across Vidarbha and the country.

Gold Rate

Aug 26 ,2026 - Time 10.30Hrs

Gold 24 KT ₹ 1 62,400 /-

Gold 22 KT ₹ 1,50,700 /-

Silver/Kg ₹ 2,45,800/-

Platinum ₹ 88,000/-

Recommended rate for Nagpur sarafa Making charges minimum 13% and above

Adding to this, Mukul Agrawal, Secretary of SHCV, said that rationalization of GST on motor cars up to 4000 mm length (from 28% to 18%) will boost automobile demand, indirectly creating additional steel consumption. While the hike in GST on larger cars to 40% may weigh on the luxury segment, the mass automobile market stands to benefit, enhancing affordability and spurring overall demand.

Despite the logistical burden of higher GTA tax, SHCV leaders emphasized that the overall reforms are progressive, expected to fuel infrastructure, housing, and automobile-led growth—all critical demand drivers for the steel and hardware sector.