GST council revises rates on Tractor Parts and on Textile Job Work. New Delhi: One month after GST i.e Goods and Service tax is imposed in he country, Textile industry got a great relief from GST council. GST council gave relief on tax to be imposed on textile job work. Now GST Rate has been reduced from 18 to 5 percent on textile job work.On the other hand, religious institution are not exempted from GST. SGPC and Punjab Chief Minister Captain Amarinder Singh had requested Center Government to exempt ‘Langar’ from GST but Government didn’t yet take any decision regarding that.After the implementation of GST from July 1, Garment traders sat on strike aginst the decision of government .They said that 18% tax on textile job work is too much. Apart from this GST council has reduced the percentage of tax imposed on Tractor parts, computers and incense sticks.GST on 20 inch computer monitor and tractor parts has reduced from 28% to 18% while on clay idols it has cuts to 5%. Apart from this, broom is completely GST free.There is a big change in tax rates after the implementation of GST. Next meeting of GST council will be held on 9 Sept in Hyderabad. In this meeting, the council will review tax on other items.
For more news updates Follow and Like us on Facebook