India has removed quotas and licenses which were required in making marble and natural stone trade since October 2nd, 2016. India, one of the prominent markets for Turkish natural stone sector, abolished the quotas that were formerly required in natural stone and marble import. Indian government cancelled the licenses that were being issued to companies which were authorized for natural stone import. The Parliament authorized the government to 40 % raise in taxes…
The tax rate in Indian natural stone sector which was formerly 10 %, will be raised up to 40 %, with the authority given to the Indian Government by the Indian Parliament. Although not yet accurate, Indian Government holds this authority at the moment.
Variable Tax for Different Marble Types!
Another issue being discussed is the determination of tax rates according to types of marbles` Classification of marbles is being made at the moment. This new taxing system can be put into force in the near future. For instance, the base price
for beige marble per tones is around 200 Dollars, It is discussed that this price can go up to 400 dollars for travertine and colored stones and 700 dollars for onyx