GST Council defers GST hike from 5% to 12% on textile [Read Official Press Release]

GST Council defers GST hike from 5% to 12% on textile [Read Official Press Release] The 46th GST Council Meeting was held today under the chairmanshi…

CA Deepak Gupta

Dec 31, 2021

Last update on Dec 31, 2021

GST Council defers GST hike from 5% to 12% on textile [Read Official Press Release] The 46th GST Council Meeting was held today under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. In the meeting, the council has recommended deferring the decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing rates in the textile sector would continue beyond 1st January 2022. However, no such decision has been taken in the case of footwear, which means rates hike in their case remains the same. The Official GST press release, is given below for reference: [caption id="attachment_112970" align="aligncenter" width="1280"]

GST Council defers GST hike from 5% to 12% on textile [Read Official Press Release][/caption]

About Author

CA Deepak Gupta

Co Founder

CA Deepak Gupta,is Co-founder of Studycafe. He is Microsoft Office Specialist and Corporate Trainer of AI Tools, Microsoft Excel. He is Finance Influencer having more than 250K followers on Social Media. CA Deepak Gupta, is Having more than 14 plus years of experience, and he has Worked with best brands Like, Hero, Wipro, Ericsson before Starting Studycafe. He has Trained more than 20000 Persons in Microsoft Excel, PowerPoint, Power BI, Google Sheet, Google Forms and Other Tools.