Clothes will not be expensive in the new year, GST Council took this decision
The good thing for common people is that clothes will not be expensive from the new year. The implementation of the decision to increase the rate of duty on textile products from 5 to 12 percent has been postponed by the GST Council, the policy-making body of the Goods and Services Tax (GST). The GST Council has postponed the decision because of the objections of many states.
The decision to increase the rate on textile products was discussed in the 46th meeting of the GST Council held under the chairmanship of Union Finance Minister Nirmala Sitharaman. The decision to increase the rate of duty on textile products from 5 to 12 percent was taken in September.
Under this decision, this decision was to be implemented from January 1, 2022. Now this decision was postponed after protests from many states including Gujarat. There were objections from the states that this decision would adversely affect the common man and the artisans.