GST Council decides to defer GST rates hike on Textiles from 5% to 12%
_large.jpeg)
31 December 2021, Mumbai:
The 46th Goods and Service Tax (GST) Council chaired by union finance minister Nirmala Sitharaman on Friday has unanimously decided to defer hike in GST on textiles.
The 5% GST will be applicable on Textiles as per earlier. The GST rate hike on textiles from 5 percent to 12 percent was to come into effect from January 1, 2022.
States like Gujarat, West Bengal, Delhi, Rajasthan, and Tamil Nadu in the pre-budget meet opposed the hike in GST rate.
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.
