NEW DELHI As the concerns were being raised from stakeholders in textile sector with regard to the increase in GST rates on textiles from 5% to 12%. The GST Council has recommended deferring the decision to change the rates in textiles.
In consequence, the existing GST rates in the textile sector would continue even after 1st January, 2022.
The council would be reviewing the decision in its upcoming meeting in February month.
On Friday, it was GST Council’s 46th meeting that was held at New Delhi with the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.