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]

Deepak Gupta | Dec 31, 2021 |

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 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:

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]

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