Related Keywords: applicable rates are currently between five to seven percent, avoid all possibilities of tax evasion, depending upon use of raw materials, five percent, production of finished products, textile industry of India, under the lowest slab of the GST, urged government to place all products across the textile and apparel value chain
The textile industry of India has urged the government to place all products across the textile and apparel value chain under the lowest slab of the Goods and Services Tax (GST) of 5 percent to avoid all possibilities of tax evasion. The applicable rates are currently between 5 and 7 percent, depending upon the use of raw materials and production of finished products. The final decision on the rate is yet to be decided, the draft rules propose four slabs -- 5, 8, 12 and 18 per cent of tax under GST.
