Textiles Products Becomes Dearer Post GST

Textiles products which are made from the fabric and the cotton yarn that are cost more which are set by the government at a higher rate for them which came out from July 1.The differential rates for the cotton and the fiber which will lead to interpretation issues under the new indirect tax.

On Saturday The Goods and Services Tax (GST) set up a 5% rate on the cotton fiber, fabric, yarn and zero duty at present. Some states levy a value added tax on the cotton yarn and fabric at the rate of 2 to 4 %.All the natural fibers, it will include lie cotton yarn, cotton, fabrics and the ready made garments below the rate of Rs1000 which would be rated at 5% under the GST.

12% tax will be valued on the garments which are valued above Rs.1, 000 and it will valued for synthetic or man-made fibers at a 18 % rate of tax.Usual Lahoti is the chairman of The Cotton textiles Export Promotion Council said to the government to drawback rates under the GST.Textile will benefit the buyers because the inflation will come down it is told by the PTI.
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