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Textiles Ministry thanks FM for deferring GST rate-hike

By TIOL News Service

NEW DELHI, JAN 01, 2022: DEPARTMENT of Revenue had notified GST @12 % on MMF, MMF yarn, fabrics and apparel on 18.11.2021 which was to come into force from 1st January, 2022.

Fabrics and Apparel Industry represented against this revision of GST slab from 5% to 12%.

This Ministry under Mr Piyush Goyal arranged meeting of a delegation of textiles industry and trade representatives with the FM regarding the concerns of textiles industries.

After persuasion of HMoST, the GST Council's 46th meeting was held yesterday and has recommended deferring the earlier decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing rates in textile sector would continue beyond 1st January, 2022.

Ministry of Textiles has expressed its hearty thanks to the Prime Minister and the Union Finance & Corporate Affairs Minister for considering the requests of industry stakeholders especially in present challenging times when the sector is on the path of recovery.


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