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Studycafe Admin | Dec 31, 2021 | Views 495361

GST Council likely to defer GST hike from 5% to 12% on textile

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.

You May Also Refer: 46th GST Council Meeting to be held on 31st Dec 2021

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.

You May Also Refer: GST Council 46th Meeting to be chaired by Finance Minister Today

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