Business Standard

GST Council defers rate hike in textiles, refers issues to ministers group

'We will retain the status quo', says Finance Minister Nirmala Sitharaman after emergency meeting in Delhi.

Nirmala Sitharaman
Premium

Union Finance Minister Nirmala Sitharaman

Arup Roychoudhury New Delhi
The Goods and Service Tax Council, in its 46th meeting in New Delhi on Friday, decided to defer a hike in the GST rate for textiles to 12 per cent from 5 per cent. The matter has been referred to an existing Group of Ministers on GST rate rationalisation, Finance Minister Nirmala Sitharaman said.

“It was a brief meeting, triggered by a letter sent to me by the finance minister of Gujarat. We will retain the status quo and not go to 12 per cent from 5 per cent, in the case of textiles,” Sitharaman said at a media briefing after

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 31 2021 | 3:41 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com