Telangana News

GST to affect price of furnitures made of recycled plastic

Published: 04th July 2017 03:16 PM  |   Last Updated: 04th July 2017 03:16 PM   |  A+A-

By IANS

The recycling of plastic materials attract 0 per cent input credit under GST, however plastic furniture made out of recycled plastic are taxed at 28 percent. This would result in the plastic recycling industry losing its competitive edge in markets. Vendors have stopped collecting scrap from June 29 onwards. A side story on how the situation affects the rag pickers, since scrap dealers have stopped buying scrap from them.

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