New Delhi: Department of Revenue had notified GST @12 % on MMF, MMF yarn, fabrics and apparel on 18.11.2021which was to come into force from 1st January, 2022.
Fabrics and Apparel Industry represented against this revision of GST slab from 5% to 12%.
Textiles Ministry under Piyush Goyal, Hon’ble Minister for Textiles, Darshana Jardosh, Minister of State for Textiles arranged meeting of a delegation of textiles industry and trade representatives with Finance Minister regarding the concerns of textiles industries.
After persuasion, the GST Council’s 46th meeting was held under the chairpersonship of the Union Finance & Corporate Affairs Minister Nirmala Sitharaman.
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 1st January, 2022.
Ministry of Textiles has expressed its hearty thanks to Prime Minister 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.