Patchwork policy: On GST rate on textiles

The temporary rollback of tax hikes on textiles is a harbinger of challenges before GST regime  On New Year’s eve, nine hours before a new GST rate of 12% was to kick in for readymade garments and fabrics, Finance Minister Nirmala Sitharaman  announced that the plan is off and the existing 5% rate will continue into 2022 , or at least for its first quarter. The decision was made at an em…