Telangana Minister to centre: Seeking withdrawal of Textile, Apparel (T&A) sector GST rate hike
-sector-GST-rate-hike_large.jpg)
18 December 2021, Mumbai:
Telangana Industries Minister KT Rama Rao on Sunday urged the Centre to withdraw its proposed plan to increase GST rates from 5 per cent to 12 per cent on garments and fabrics from January 1, 2022 In a letter to Union Textiles Minister Piyush Goyal, Rama Rap said for the past two years, the handiooms sector has been going through a difficult phase due to coronavirus pandemic, an official release said here.
"At this juncture, revising the GST (rates) from the current 5 per cent to 12 per. cent would serve a death blow to the industry," said Rama Rao. After the agriculture sector, textiles and handlooms sector provide the highest employment in the country.
Considering the current scenario, the need of the hour. was to extend additional advantages and incentives to the sector, he said adding the decision to increase GST rates on textiles and handlooms is not wise.
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.
DAILY NEWS:
