- GST Council meeting to be held on 31st December
Mumbai : The government is likely to withdraw the proposed 7% increase in GST rates on textiles from January 1, 2022. The final decision in this regard will be taken in the meeting of the GST Council to be held on Friday, December 31. This was indicated by the Union Minister of State for Finance Dr. Bhagwat Karad who came to Mumbai. In the Sahyadri guest house, the Minister of State for Finance told the textile traders that they would apprise the Prime Minister about the concerns of the textile trade-industry sector, but the decision regarding GST is taken by the GST Council.
The meeting of the council will be held on Friday under the chairmanship of Finance Minister Nirmala Sitharaman. In which the final decision will be taken after reviewing the decision to increase GST on clothing among other issues. Earlier a delegation of Mumbai textile market organizations led by BJP leaders Raj Purohit and Akash Purohit met Dr. Karad and demanded from him to postpone the decision of GST hike in the interest of textile industry.
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The delegation included Shikharchand Jain, President, Hindustan Chamber of Commerce, Dheeraj Kothari, Emirates Chairman, Mumbai Textile Merchants Mahajan, Shiv Kanodia, Treasurer of Bharat Merchant’s Chamber and Gitesh Unadkat, President, Swadeshi Markets.
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Significantly, from January 1, the GST rate on all types of clothes is being increased from 5% to 12%. Which is being opposed by textile traders across the country including Mumbai, Surat.