FM: Textile Inverted Duty Structure to be taken up @ forthcoming meet

18 April 2022, Mumbai:

Fresh strike on inverted textile duty.

Finance ministry officials said the inverted duty structure in textile was deferred at the last meeting and would be taken up at the forthcoming meeting.

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The GST Council plans to take up the vexed issue of inverted duties on textiles at its meeting likely later this month.

In December, the council had dropped plans to hike the GST rates for most textile products in the man-made fibre value chain to 12 percent from 5 percent amid protests from the industry in Gujarat and other states.

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Finance ministry officials said the inverted duty structure in textile was deferred at the last meeting and would be taken up at the forthcoming meeting.

But the textile duty hike faced stiff opposition from the industry.

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CREDITS: Telegraph (The news article has not been edited by DFU Publications staff).