Garment firms fear GST rejig

Garment prices for items below Rs 1,000 may go up 7 per cent if the government proceeds to redress the inverted duty structure in that segment. GST rates on yarn in the category of man-made fibre at 12 per cent are higher than garments at 5 per cent if the item costs below Rs 1,000, leading to refund of input tax credit generating a revenue outflow. Advertisement The GST Council has been deliberat…