News Hits: 1873

GST Council decides to defer GST rates hike on Textiles from 5% to 12%

News Hits: 1873
GST Council decides to defer GST rates hike on Textiles from 5% to 12%
News Hits: 1873

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 Demand GST Rate Hike On Textiles Be Put On Hold - Inventiva 1

States like Gujarat, West Bengal, Delhi, Rajasthan, and Tamil Nadu in the pre-budget meet opposed the hike in GST rate.

 

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