Skip to main content

Posts

Showing posts from December, 2021

CHANGES OF RATES OF TEXTILE INDUSTRY POSTPONED

  IN THE 45TH MEETING OF GST COUNCIL IT WAS PROPOSED THAT THE GST RATES WILL BE MODIFIED FROM 5% TO 12% AND WILL BE EFFECTIVE FROM 01/01/2022, BUT NOW A NEW PRESS RELASE HAS BEEN MADE ON 31ST DECEMBER 2021 AND IN 46TH MEETING OF GST COUNCIL IT HAS BEEN ONLY SAID THAT THE ABOVE AMENDMENT IS POSTPONED AND THE EXISTING RATES OF TEXTILE INDUSTRY WILL BE CONTINUED TILL THE NEXT PRESS RELEASE COMES. NOTICE OF THE PRESS RELEASE IS ATTACHED BELOW: https://www.cbic.gov.in/resources//htdocs-cbec/press-release/46th%20GST%20Council%20Press%20Release%20final.pdf  

GST RATES EFFECTIVE FROM 01/01/2022 VARIOUS AMENDMENTS AND APPLICABILITY

  There are several changes and new levy's of GST that will be effective from 01/01/2022 like  These rules will be strictly applicable from 01/01/2022 and are advised to follow them GST rates increased in Clothes and Footwear from 5% to 12% . For details (A new press release has been made on 31st December 2021 and it was said that GST rates will be as it is and there will be no changes in GST rates for textile industry. The initiative of increasing the rates from 5 to 12 has been postponed.) visit  http://www.gst-return-filling. com/2021/12/gst-rate-changes- on-cloth-apparel.html Likewise there is a another Amendment and a New Clause inserted by the union Govt of India regarding the Auto rickshaw rides on roads that any ride that will be booked online or through app will attract a GST charge of 5% w.e.f 01/01/2022. ON OLA AND UBER AND ANY OTHER RIDES BOOKED ONLINE The words under Passenger Transport under GST Act has included the Omnibus and any other Motor vehicle along with

GST RATE CHANGES ON CLOTH, APPAREL, FABRIC, FOOTWEAR & MAN MADE FIBRE FROM 5% TO 12%

According to Notification by Ministry of Finance Under GST Act there will be changes of rates on CLOTH, APPAREL, FABRIC, FOOTWEAR & MAN MADE FIBER w.e.f. 01/01/2022 as notified in circular vide Notification No. 14/2021-IGST & Notification No. 14/2021-CGST Dated-18th November, 2021. The below mentioned amendments have been postponed by the Government by a new press release on 31st December 2021 in 46th meeting of GST council .  Changes in GST Rates of Woven Fibers which comes under sec 203,207,211,216-218,218A,218C,219A,219B,220,221-224,224A and 225 Previously the Rates on Woven Fibers and fabric cloth were likewise Apparels of MRP or Retail price Up to  ₹ 1000 - GST - 5% Apparels of MRP or Retail price Above  ₹ 1000 - GST - 12% Current Rates Applicable W.E.F. 01/01/2022 will be likewise All Apparels, Fabrics, Woven Fibers, blankets, linen, bags and any other made of cloth fabric  etc. starting from MRP  ₹ 1 - will be charged at a uniform GST - 12% Rate 5% has been abolished