Correcting inverted duty structure: GST Council likely to revisit plan to hike rate for textiles

Even though the Goods and Services Tax (GST) Council had to drop a plan to hike the GST rates for most textile products in the man-made fibre (MMF) value chain from 5% to 12% in late December 2021 amid protests from the industry, the government may revisit it soon. The rate hike was to take effect from January 1, 2022, but the decision was rolled back a day before amid protests from the industry.&…