Team News Riveting
New Delhi, December 31
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%.
This Ministry under the able leadership of Piyush Goyal, Minister for Textiles, Smt. Darshana Jardosh, Minister of State for Textiles arranged meeting of a delegation of textiles industry and trade representatives with Hon’ble FM regarding the concerns of textiles industries.
After persuasion of HMoST, the GST Council’s 46th meeting was held today under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. 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 1st January, 2022.
Ministry of Textiles expresses its hearty thanks and is grateful 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.
