GST Council defers decision to hike duty on textiles
01 Jan 2022
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The GST Council, at its 46th meeting held on Friday, unanimously decided to defer the decision to change the rates in textiles taken in the previous Council meeting. Consequently, the existing GST rates in the textile sector would continue beyond 1 January 2022.
GST Council, at its 45th meeting, had decided to hike in GST on textiles from 5 per cent to 12 per cent in order to correct inverted duty structure. The matter will be discussed again in the next Council meet for future roadmap.
GST Council has unanimously decided to defer hike in GST on textiles from 5 percent to 12 percent. The matter will be discussed again in the next Council meet for future roadmap.
The tenure of group of ministers at GST Council has been extended, report citing Himachal Pradesh industry minister Bikram Singh said.
“Only single decision has been taken by the Council that the percentage increase in textile goods that is deferred. It is deferred till next council meeting. Regarding inverted duty structure there are different opinion of all the states, but the decision regarding this particular textile will be done in the month of February," a CNBC TV18 report quoted him as saying
Participating in the meeting Kerala finance minister demanded extension of GST compensation period by another five years and a rehabilitation package for "return migrants" who have come back to the state from foreign countries amid the Covid-19 pandemic. In a list of demands submitted to the centre during the pre-Budget meeting of union finance minister Nirmala Sitharaman with state finance ministers, Kerala also called for making the National Health Mission a fully centrally sponsored scheme as well as increased allocation for such schemes.
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