Construction Chemicals producing firm Hindcon Chemicals Ltd suddenly changed its mind while placing their new plant earlier in the north. The sources said that in a meet, the company has now decided to project its new plant in the west.
Read Also: Time of Supply of Goods and Services
The Managing Director of Hindcon, Mr. Sanjay Goenka said that “We were planning to expand in either Rajasthan or Maharastra. But, if GST comes as perceived then entry and other associated taxes will be abolished. In that case, we will rather expand in Bengal.”
The reason being was the lower cost of production as much as 10 percent low in Bengal that of other northern regions. While the logistics cost will not be an issue as of GST which will take care of the all the indirect taxes in the row.
He also mentioned that “We have also achieved green building certification a few and working towards to get on other, There will be short-term hiccup in the housing sector due to demonetization.”
