New Delhi: GST Council on Friday decided to make a decision to raise the tax rate on the textile to 12 percent after many countries, including Tamil Nadu and West Bengal, said the official, said the official, said the official, said an official said That, said an official of the 46th meeting of the GST council, chaired by the Minister of Finance Union Nirmala Sitharaman and consisted of state partners, decided to discuss this issue further in the next meeting.
At present, the tax rate on man-made fiber (MMF) is 18 percent, 12 percent MMF thread, while the cloth is taxed at 5 percent.
The council at the previous meeting on September 17 has decided to improve the structure of the inverse task in the footwear and textile sectors.
With the effect of January 1, 2022, all footwear, regardless of price, will attract GST at 12 percent.
It was also decided that the 12 percent GST level GST uniform applies to textile products, except cotton, including readymade clothing.
Countries such as Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu have said they do not support the increase in goods and service taxes (GST) of textile levels to 12 percent, from 5 percent, with the effect of January 1, 2022.
Amit partner, advisor Bengal Head of West Bengal, previously urged the center to roll back the increase in the proposed tax rate in the textile, by saying this would cause the closure of around 1 Lakh textile unit and 15 loss of Lakh’s work.
Watch the GST Board opposes the implementation of the increase in tax rates on textiles from 5% to 12%