Garments Sector demands uniform Rate of GST 5% at all garments.
Garments sector is worst hit by covid pandemic, The Sector’s sells have fallen sharply by more than 50%, many small business shutdown. So many worker’s looses their job.
Currently there is two GST slab Rates on Garments, 5% for individual piece of garments less than Rs.1000/- and 12% for the sales value Rs.1000/- and above.
Representative of garment sector demanding reduction in GST rate for 12% to 5%,the sector representative has written letter to chief minister and petitioned him seeking reduction in GST rate. Earlier Mr. basavaraj bommai acting on petition had written to Union finance minister Nirmala sitaraman seeking uniform GST slab at 5% on garments. Mr. bommai recently appointed chairman of the Group of Ministers on GST Rate Rationalisation.
Perikal M sundar, president of Karnataka chamber of commerce and industries said, this sector may face closure leading to more unemployment and revenue loss to the government.