Has the GST Council really been able to resolve the issues being faced by the footwear and textile sector by increasing the applicable GST rates on the output products manufactured by the industry?
The Confederation of All India Traders (CAIT) said that instead of simplifying and rationalising the GST tax structure, the GST Council has made it as "most complicated GST law in India over the world" and much against the GST structure shown to CAIT by the then Finance Minister Arun Jaitley.
Hosiery, knitwear, fabric, textile traders and garment manufacturers bodies in West Bengal have expressed concern over the Centre s proposed plan to increase GST basic rate of 5 per cent to 12 per cent on Fabrics and Garments below Rs 1,000 in .
Hosiery, knitwear, fabric, textile traders and garment manufacturers bodies in West Bengal have expressed concern over the Centre s proposed plan to increase GST basic rate of 5 per cent to 12 per cent on Fabrics and Garments below Rs 1,000 in the pretext of Inverted Duty Structure from January 1, 2022.
The GST was supposed to streamline business operations, but a by-product of the indirect tax regime is hurting the competitiveness of exporters. What is worse is that there is no solution in sight.