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The textile industry today asked the GST Council to consider reducing the tax rate on man-made fibres, filaments and yarns to 12 per cent from 18 per cent.
The Southern India Mills’ Association (SIMA) also demanded inclusion of garments in the 5 per cent bracket under the Goods and Services Tax (GST) regime.
High GST on man-made fibres, filaments and yarns “would significantly increase the fabric cost and seriously affect the independent spinning and weaving units including powerloom sector,” it said in a statement.
The Export Promotion Council for Handicrafts also asked the Council to address issues related to the sector.
It said handicraft is currently exempted from Central Excise and VAT in various states.
The GST Council is holding its 16th meeting here tomorrow.
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