< FONT color = # 000000 > An attempt by the finance minister on Thursday to control cement prices by increasing excise duty has failed miserably and the retail price has risen by 12 rupees per bag. The retail price of cement in Mumbai remained between Rs 240-245 on Wednesday, but the current retail price has generally risen to Rs 250-255 per bag, it was confirmed from cement sellers in Mumbai. < BR > < BR > The consumption tax on cement was originally not related to the retail price of cement commodities, but it is now linked to the retail price. It is reported that if the retail price of cement exceeds 190 rupees per bag, an excise tax of 612 rupees per ton of cement will be levied, which is 50% higher than before. If the price of cement is not higher than 190 rupees per bag, an excise tax of 350 rupees per ton of cement will be levied. < BR > < BR > Although the Indian government has made a new tax structure adjustment to promote cement producers to control cement and achieve cement price control, industrialists believe that the government has actually predicted the rise in cement prices, and the real purpose of the tax increase is to break the real estate bubble formed in the past two years. < BR > < BR > As cement prices continue to rise, the biggest impact is on the construction industry. Although the government has been highly concerned about the rise in cement prices, people in the cement industry believe that the current cement price is still normal, given that the demand for cement far exceeds the supply of cement.
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