Business EconomyPosted at: Sep 9 2025 8:59PM


TEA urges central govt to reduce GST on elevators by removing from luxury category

Hyderabad, Sept 9 (UNI) Telangana Elevator Association (TEA) today urged the central Government to treat elevators as essential service and reduce the GST from the current 18 per cent.
The GST reduction on elevators would positively impact affordable housing across the country, said TEA President Challa Avinash and General Secretary Goud in a joint press conference.
With India’s ageing population and rapidly growing cities, elevators are no longer a luxury but a basic amenity that ensures accessibility and safety for all, they said and also urged the Telangana Government to bring a ‘LIFT ACT’ on the lines of other state governments like Karnataka and Tamil Nadu.
The neighbouring Andhra Pradesh had already enacted a Lift ACT in April this year, but it is yet to be implemented.
The small and medium sized elevator manufacturers and installers in the state are facing challenges and despite multiple appeals, the Industry continues to operate without a formal regulatory framework in the state, they informed.
Avinash said a “dedicated Lift Act would streamline industry operations, set clear safety standards and enhance quality assurance for en-users”.
The elevator market in Hyderabad is witnessing substantial growth, with approximately 5,000 units being installed every month at an average cost of Rs 8 lakh per unit, translating to a monthly market size of Rs 400 crore.
He urged the government to reclassify elevators as essential services on par with healthcare infrastructure and reduce the GST rate accordingly.
A rationalised tax structure will not only provide relief to common people but also strengthen the industry and ensure safer, more affordable access to modern infrastructure, he added.
To a question, he said lift makers are importing ‘guide rails’ only from China and other parts relating to elevators are manufactured in India at an affordable cost. UNI KNR VNS SSP
Please log in to get detailed story.
Tags: #TEA urges central govt to reduce GST on elevators by removing from luxury category
More News

Hyd: NITHM hosts faculty development programme on emerging tourism, hospitality technologies

19 May 2026 | 10:48 PM

Hyderabad, May 19 (UNI) The National Institute of Tourism and Hospitality Management (NITHM) on Tuesday organised a one-day Faculty Development Programme (FDP) on “Trends in Tourism & Hospitality Sector – Technology Competency Enhancement” at its Hyderabad campus.

see more..

Adeeb Ahamed named to Washington Post Intelligence Council on AI & Technology

19 May 2026 | 10:18 PM

Kochi, May 19 (UNI) Washington Post Intelligence, the intelligence and advisory platform of The Washington Post, has named Kerala-born Adeeb Ahamed, Managing Director of LuLu Financial Holdings, to its Council on AI & Technology.

see more..

19 May 2026 | 9:36 PM

BPCL reports 94% increase in PAT
Mumbai, May 19 (UNI) Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company and a Maharatna PSU, reported a resilient operational and financial performance for the quarter and financial year ended March 31, 2026, navigating a year shaped by volatile crude prices, evolving supply dynamics and continued uncertainty across global energy markets.

see more..

BSE Ltd Unlikely to Make It to Nifty 50 Index

19 May 2026 | 8:50 PM

Mumbai, May 19 (UNI) BSE Ltd appears set to miss out on a coveted spot in the Nifty 50 index, as the stock fails to meet some eligibility criteria required for inclusion in India's benchmark equity gauge.

see more..

India-EU FTA to unlock major export, services opportunities: Commerce Department

19 May 2026 | 8:31 PM

New Delhi, May 19 (UNI) India's newly concluded free trade agreement with the European union is expected to open significant opportunities for exporters, labour-intensive industries and service providers, with the government now focusing on ensuring the benefits reach businesses across sectors, Darpan Jain, Additional Secretary, Department of Commerce and Industry said on Tuesday.

see more..