GST Council likely to defer GST hike from 5% to 12% on textile
Deepak Gupta | Dec 31, 2021 |
GST Council likely to defer GST hike from 5% to 12% on textile
GST Council is likely to defer GST Hike from 5% to 12% on Textile.
In the last GST Council Meeting, it was decided to increase GST Rate on textile and footwear from 5 percent to 12 percent to correct the anomaly of inverted duty structure.
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But this decision was not accepted by the industry, and various states called for deferment of this decision.
Finally the same has been deferred in 46th GST Council Meeting held today in New Delhi.
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