GST Council defers hike in GST on textiles from 5 percent to 12 percent.
Dear all,
Your association SIMA is forwarding herewith an article regarding the 46th meeting of the GST Council, chaired by Sitharaman and comprising state FMs, held on 31/12/2021 in Delhi.
As per the news article, on December 30, several states flagged a higher tax rate on textile products from 01/01/2022 and demanded that the rate hike be put on hold. In the pre-budget meeting chaired by Union Finance Minister Nirmala Sitharaman, states like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu said that they are not in favour of a hike in Goods and Services Tax (GST) rate on textiles to 12 per cent, from 5 per cent currently, with effect from 01/01/2022.
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Thanking You,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
