The 46th GST Council Meet chaired by the Union Finance Minister, Nirmala Sithraman announced that the existing rates in the textile sector will continue beyond 1st January, 2022.
“The GST Council’s 46th meeting was held today under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has recommended to defer the decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing rates in the textile sector would continue beyond 1st January, 2022,” the press release read.
At the 45th meeting in Lucknow on September 17, the GST Council had decided to rectify the inverted duty structure for footwear and textiles. Subsequently, the rate for footwear and textiles for any value was raised to 12 per cent, effective from January 1, 2022. Earlier the GST rate was 5 per cent for sale value up to Rs 1,000 per piece in the case of apparel and per pair in the case of footwear.
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