News > GST Hike On Textiles From 5% To 12% Deferred Amid Objections: Sources
GST Hike On Textiles From 5% To 12% Deferred Amid Objections: Sources
NDTV | 31/12/2021 04:50 PM | Click to read full article
The goods and services tax (GST) Council meeting, chaired by Finance Minister Nirmala Sitharaman, today decided that the rate hike on textiles from five percent to 12 percent will be deferred, sources told NDTV.
Many states had objected to the higher tax rate on textile products and demanded that the rate hike be put on hold. The matter was raised by states like Gujarat, West Bengal, Delhi, Rajasthan, and Tamil Nadu.