GST Council defers hike on textiles from 5% to 12%; to review matter in Feb


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NEW DELHI (31/12/2021): Union Finance Minister Nirmala Sitharaman on Friday chaired the 46th GST Council Meeting in Vigyan Bhawan, New Delhi.

“GST Council has decided to defer the hike in GST rate on textiles (from 5% to 12%). The Council will review this matter in its next meeting in February 2022,” informed Bikram Singh, Industry Minister, Himachal Pradesh.

The meeting was important since it took place prior of the Union Budget for 2022-23 which is scheduled to be presented in parliament on February 1, 2022.

The meeting was attended by the Finance Ministers of the States and Union Territories, as well as other top authorities.

The conference was also attended by Union ministers of state in the Ministry of Finance, Pankaj Chaudhary and Bhagwat Kisharao Karad, as well as senior officials from the Ministry of Finance.

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