{"id":7260,"date":"2022-01-31T13:43:44","date_gmt":"2022-01-31T13:43:44","guid":{"rendered":"https:\/\/www.gstworld.co.in\/blog\/?p=336"},"modified":"2022-02-01T05:56:11","modified_gmt":"2022-02-01T05:56:11","slug":"gst-council-deferred-the-decision-to-change-gst-rates-on-textiles","status":"publish","type":"post","link":"https:\/\/www.klickongstworld.com\/blog\/gst-council-deferred-the-decision-to-change-gst-rates-on-textiles\/","title":{"rendered":"GST Council deferred the decision to change GST rates on Textiles"},"content":{"rendered":"<p align=\"justify\"><strong>GST  Council deferred the decision to change GST rates on Textiles<\/strong><\/p>\n<p align=\"justify\">The GST Council&#8217;s 45th meeting held on September 17, 2021 had  recommended correction in GST rates to mitigate  inverted duty structure on textile and footwear.<\/p>\n<p align=\"justify\">Accordingly, the CBIC vide&nbsp;Notification No. 14\/2021- Central  Tax (Rate) dated November 18, 2021 amended&nbsp;Notification No. 1\/2017-  Central Tax (Rate) dated June 28, 2017&nbsp;w.e.f. January 1, 2022 to change  GST rate from 5% and 18% to 12% to overcome refund of Inverted Duty Structure. <\/p>\n<p align=\"justify\">However, in 46th GST Council meeting held in <strong>New  Delhi <\/strong>on December 31, 2021, the GST Council has recommended deferring  the decision to change the rates in textiles recommended in the 45th GST  Council meeting. Consequently, the existing&nbsp;rates&nbsp;in textile sector  would continue beyond  1st January, 2022. <\/p>\n<p align=\"justify\">Accordingly, the CBIC issued&nbsp;<strong>Notification No. 21\/2021-Central Tax (Rate) dated  December 31, 2021&nbsp;<\/strong>in suppression of&nbsp;Notification No.  14\/2021- Central Tax (Rate) dated November 18, 2021&nbsp;so as to change GST  rate from 5% and 18% to 12% w.e.f. January 1, 2022. Thus,&nbsp;<strong>now previous GST  rates as appliable<\/strong>in textile sector would continue<strong>on or after  January 1, 2022<\/strong><strong>.<u><\/u><\/strong><\/p>\n<p align=\"justify\">This notification shall come into force on the January 01, 2022.  Similar notifications have been issued under Integrated Goods and Services Tax  Act, 2017 and Union Territory Goods and Services Tax Act, 2017.<\/p>\n<p align=\"justify\">The decision to defer hike in GST rate on textiles from 5% to 12%  w.e.f January 1, 2022 will give much needed impetus and support to textile  sector. This convention attains special significance as  it comes days ahead of Sitharaman presenting the much-anticipated Union Budget  2022-23 on February 1, for which she has been holding a series of pre-budget  consultations with stakeholders. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>2022\/01\/decision-to-change-GST-rates.jpg<\/p>\n","protected":false},"author":1,"featured_media":337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/7260"}],"collection":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/comments?post=7260"}],"version-history":[{"count":0,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/7260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media\/337"}],"wp:attachment":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media?parent=7260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/categories?post=7260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/tags?post=7260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}