Traders' Protest Finally Pays Off: GST Council To Defer Hike In GST Rate From 5% To 12% - Vibes Of India

Gujarat News, Gujarati News, Latest Gujarati News, Gujarat Breaking News, Gujarat Samachar.

Latest Gujarati News, Breaking News in Gujarati, Gujarat Samachar, ગુજરાતી સમાચાર, Gujarati News Live, Gujarati News Channel, Gujarati News Today, National Gujarati News, International Gujarati News, Sports Gujarati News, Exclusive Gujarati News, Coronavirus Gujarati News, Entertainment Gujarati News, Business Gujarati News, Technology Gujarati News, Automobile Gujarati News, Elections 2022 Gujarati News, Viral Social News in Gujarati, Indian Politics News in Gujarati, Gujarati News Headlines, World News In Gujarati, Cricket News In Gujarati

Traders’ Protest Finally Pays Off: GST Council To Defer Hike In GST Rate From 5% To 12%

| Updated: December 31, 2021 14:25

The protest of traders against increase in goods and services tax on textile has finally payed off as GST Council has decided to defer the hike in GST rate on textiles from 5 per cent to 12 per cent.

Several states flagged higher tax rate on textile products from January 1 and demanded that the rate hike should be put on hold. Union Finance Minister Nirmala Sitharaman, in the pre-budget meeting with states like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu said that they are not in favour of a hike in Goods and Services Tax (GST) rate on textiles to 12 per cent with effect from January 1, 2022.

The AAP and Delhi government have been in favour of the traders. “The protest by textile traders against hike in GST from 5 per cent to 12 per cent is justified. The AAP and Delhi government under leadership of Arvind Kejriwal have been in favour of keeping the tax rates low. I will demand keeping tax on textile low in the GST Council meeting tomorrow,” read Sisodia’s tweet who is also minister in-charge of Delhi government’s finance department.

The matter will further be reviewed by the Council in its next meeting in February 2022.

Your email address will not be published. Required fields are marked *