GST Council defers hike in rates on textiles from 5% to 12%


Textiles Ministry has said that the existing rates of five per cent in textiles sector will continue beyond 1st of January, 2022.

Earlier, the Department of Revenue had notified Goods and Services Tax at 12 per cent on man-made fibres, fabrics and apparel on 18th November this year, which was to be implemented from January 1.

The GST meeting called by the Goods and Services Tax (GST) Council has decided to defer the hike in tax rate on textiles from 5% to 12%.

The Council's decision comes after several states on Thursday flagged higher tax rate on textile products from January 1 and demanded that the rate hike be put on hold.


Share