GST Council decides to defer hike on  textiles rates

The GST Council has recommended deferring the earlier decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing rates in textile sector would continue beyond 1st January, 2022.

New Delhi:  The Department of Revenue had notified GST @12 % on MMF, MMF yarn, fabrics and apparel on 18.11.2021which was to come into force from 1st January, 2022.

Fabrics and Apparel Industry represented against this revision of GST slab from 5% to 12%. This ministry under the leadership of  Piyush Goyal,  Minister for Textiles,  Darshana  Jardosh,  Minister of State for Textiles,  arranged meeting of a delegation of textiles industry and trade representatives with  FM regarding the concerns of textiles industries.

After persuasion of HMoST, the GST Council’s 46th meeting was held today under the chairpersonship of the Union Finance & Corporate Affairs Minister  Nirmala Sitharaman.

The GST Council has recommended deferring the earlier decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing rates in textile sector would continue beyond 1st January, 2022.

 

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