CBIC Increased GST Rate from 5% to 12% on Fabrics, Apparel, Footwear w.e.f. Jan 2022

CBIC Increased GST Rate from 5% to 12% on Fabrics, Apparel, Footwear w.e.f. Jan 2022 The Central Board of Indirect Taxes and Customs has announced that the GST rate on Fabrics, Apparel, and Footwear would be increased from 5% to 12% beginning in January 2022. The proposed increase is intended to address the problem of Inverted Duty Structure that a tiny sector of the textile value chain is experiencing, as mentioned at the 45th meeting of the Goods and Services Tax (GST) Council. GST rate on Woven fabrics, Sewing thread made of man-made filaments, whether sold at retail or not, Synthetic filament yarn (other than sewing thread) not intended for retail sale, includes synthetic monofilament with a decitex less than 67, Knotted netting constructed of twine, cordage, or rope; composed of fishing nets and other made-up nets, as well as textile materials Knitted or crocheted pile materials, including long pile fabrics and terry fabrics Bed linen, table linen, toilet linen, and kitchen linen, Curtains (including drapes) and interior blinds; curtain or bed valances Sacks and bags of the type used for packing things, Tents, tarpaulins, awnings, and sunblinds; sails for boats, sailboards, or landcraft, camping gear, Sets of woven fabric and yarn, whether or not with accessories, for putting up into carpets, tapestries, embroidered tablecloths or serviettes, or similar textile goods, packed for retail sale, etc., have been increased from 5% to 12%. https://www.youtube.com/watch?v=hlrk4cCR42Q&t=8s To Read notification Download PDF Given Below :