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The textile industry was worried about GST being levied. However, senior tax officials say that the 5% GST will have positive benefits in the long run.
Updates from 08th June, 2017
A senior tax official from the Central Government has said that the GST rates for the textile industry will be a positive influence for the sector, thus dispelling any worries that the industry leaders might have had. All mass-consumed textile products have been placed in the 5 percent bracket.
The net increase in the prices will be minimal, while a lot of other disparities have also been solved by the introduction of GST.
As reported in The Economic Times
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