Published
Dec 28, 2021
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Traders body CAIT seek deferment of GST rate hike on textile, footwear

Published
Dec 28, 2021

The Confederation of All India Traders (CAIT) has written to the finance minister Nirmala Sitharaman requesting deferment of the hike in the good and services tax (GST) on textiles, footwear which starts from January 1, 2022.
 

Traders body CAIT seek deferment of GST rate hike on textile, footwear


The government in November notified an increase in GST on natural fibre products from 5 percent to 12 percent, including apparel in the lower tax bracket with effect from January 1, 2022.
 
However, CAIT in its letter requested that the rate be maintained at 5 percent and reduced from 12 percent to 5 percent wherever applicable.

“Further, the goods which are lying in stock of the businessmen and sold on MRP (maximum retail price) the additional burden of 7 percent will be on the businessmen. This increase in tax rate will not only hamper domestic trade, it will (also) affect the exports adversely,” the letter said.
 
CAIT, in its letter, also requested that the deadline for filing income-tax returns be extended.
 
"Many technical glitches are being faced on the portal due to which a lot of time is wasted, overlapping of dates for various compliances like due date of filing of income tax returns, GSTR9, GSTR-9C is another complex issue,” the letter added.

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