No GST Hike on textile from 5% to 12% | Decided unanimously in 46th GST Council meeting
CBIC was proposed to increase GST rate on textile from 5% to 12% on entire value chain to reduce the compliance burden of the industry players, however after the decision textile sector opposes the hike in GST Rate as the industry already suffering from covid pandemic and in such situation hike in tax rate will be problem for the industry players and extra cost burden to the consumer.
After many representation received in 46th GST Council meeting held on 31st December 2021, member of the council unanimously decided to defer GST rate hike on textiles.