The GST Council’s 46th meeting was held today in New Delhi under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
The GST Council has recommended to defer the decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing GST rates (5%) in textile sector would continue beyond 1st January, 2022.
FM Nirmala Sitharaman has also said that "The issue of GST rate on textile will be sent to the tax rate rationalization committee which will submit its report by February."
However it may be pertinent to note that No decision was taken on GST rate revision on footwear.
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