Lock and Hardware Traders Urge Government to Reduce 18% GST to 5% in Budget 2026

The small- and medium-sized businesses are waiting for the Union Budget 2026, which will be presented in February 2026. The entrepreneurs in the lock and hardware sector are hoping for some relief through GST reduction. The Lock and Hardware Traders are urging the government to take necessary actions on the difficulties being faced by the industry. The traders are citing challenges like the regular metal price fluctuations and the heavy burden of GST, and have asked for effective solutions.

One of such lock and hardware traders in Aligarh pointed out that the past budgets did not fully solve the industry’s key hardships. He further adds that among the ongoing issues like transportation cost, labour shortage, route permits, high electricity bills, and labour welfare that can be addressed from time to time by the government, the biggest problem still remains the price fluctuation of metal.

To solve this issue, the trader suggested the government introduce a metal bank system to stabilise the metal prices for at least six months, protecting the manufacturers from the significant losses due to volatility in metal prices.

The manufacturers are also requesting the government offer some GST relief, citing the current tax burdens on the hardware industry, including the property tax, EPF, income tax, and labour tax. The manufacturers are requesting the government to cut the GST rate on the hardware products from 18% to 5%.