India Inc welcomes deferment of GST hike on textiles, Retail News, ET Retail

New Delhi: India Inc on Friday welcomed the GST Council’s determination to defer the proposed GST hike on textiles.

In accordance to reviews, the council has deferred the proposal on the back again of reservations from state governments and business.

The proposal intended to hike GST fee on apparel from 5 to 12 per cent.

“A large reduction to the textile and outfits sector – we enter 2022 with a refreshing bout optimism as the huge worry recedes -A good and well timed reward by the GST Council,” explained Sanjay K. Jain, ICC Nationwide Textiles Committee Chairman and MD, TT Constrained.

“Are not able to express in phrases the major aid we are feeling, right after residing in fear from September.”

According to Bimal Jain, Chair of IDT Committee PHDCCI mentioned the deferment will give a a great deal required impetus and assistance to the sector.

“Big range of modest

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