GST rates hike on textile will seriously impact industry: Textile Merchants Association, T.N.
25 November 2021, Mumbai:
The Tamil Nadu Textile Merchants Association has said that the increase in GST on textiles and garments from 5% to 12% from January 1, next year would impact the industry badly and render crores of people dependent on this industry jobless.
In a representation to Prime Minister Narendra Modi, Union finance minister Nirmala Sithraman, Union minister for textiles and others, secretary of the association, Ashraf Tayub said that the recommendations of the 45th GST council to increase the GST on textiles could have a colossal negative impact and affect the total textile and garment industry and lead to the closure of lakhs of factories and shops.
This in turn could cause unemployment to crores of people dependent on this industry.
TOI (The news article has not been edited by DFU Publications staff)
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