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New Delhi : The GST Council on December 31, 2021, recommended deferring the earlier decision to change the rates in textiles recommended in the 45th GST Council meeting. Existing rates in Textiles Sector will continue beyond January 1, 2022
Department of Revenue had notified GST @12 % on Man Made( Fibres (MMF), MMF yarn, fabrics and apparel on November 18, 2021, which was to come into force from January 1, 2022. Fabrics and Apparel Industry represented against this revision of GST slab from 5% to 12%.
This Textiles Ministry under the leadership of Minister Piyush Goyal, Darshana Jardosh, Minister of State for Textiles, arranged meeting of a delegation of textiles industry and trade representatives with Union Finance Minister (FM) regarding the concerns of textiles industries.
After persuasion of Minister of State For Textiles,the GST Council’s 46th meeting was held on December 31, 2021, under the chairpersonship of Union Finance & Corporate Affairs Minister Nirmala Sitharaman. The GST Council 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 January 1, 2022, according to a PIB release.
Ministry of Textiles expresses its hearty thanks Prime Minister narendra Modi and 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.