GST rates: Concern over impact on exports of textiles, jewellery

The commerce ministry fears that a higher than expected goods and services tax (GST) rate on gems and jewellery and textiles products may make such exports uncompetitive and exporters may have to be compensated. The two items are among six on which GST rates could not be finalized in the 14th GST council meeting in Srinagar last week and a decision was deferred for the next meeting on 3 June. “Aft…