huge relief to textile industry, GST rate decreased from 18 to 5% in jobs worker’s in textile

New Delhi: GST Council has given great relief to the textile industry after 35 days of the introduction of Goods and Services Tax in the country. There was a huge reduction in GST on textile job work. GST has been reduced from 18% to 5% on all job-related jobs.

Since the GST was implemented on July 1, Surat’s garment merchants were on strike for two weeks in protest against the imposition of five percent GST in the textile sector. The finance minister had given assurance to him, which Arun Jaitley has now claimed to be completed.

At the GST Council meeting, the rates of GST have also been reduced on some parts of the tractor, computers and agarbattis, too. The rate of GST on tractors’ premises, which was earlier 28 per cent, was reduced to 18 per cent. GST rates were reduced from 28 to 18 percent on the rubber bands and up to 20 inches of computer monitors. GSAT rates were reduced from 28 to 5 percent on soil sculptures. The broom was completely tax-free.

This is the biggest change in tax rates after GST is implemented. The next GST Council meeting will be held in Hyderabad on 9th September, in which the rate of GST on many more items will be reviewed.