GST Council defers hike in GST on textiles from 5% to 12%
New Delhi : The all powerful GST Council on Friday unanimously decided to defer hike in GST on textiles from 5 percent to 12 percent, according to sources. The decision was taken at the 46th meeting of the council held on Friday chaired by union finance minister Nirmala Sitharaman.
The matter will be discussed again in the next Council meet for future roadmap. The GST rate hike on textiles from 5 percent to 12 percent was to come into effect from January 1. However, several states had flagged higher tax rate on textile products.