5% GST on textiles will generate Rs 11,000 crore revenues, industry experts say
With cotton textiles attracting a 5% GST rate and man-made yard at 18%, the textile industry have expressed content over the rates prior to GST rollout. Industry experts have said that this would lead to a revenue generation of Rs 11,000 crore.
The value chain of the textile industry will benefit from the GST rates with natural yarn taxed at 5%, man-made yarn taxed at 18%, readymade garments at 12% and no tax on jute. (Representational Image). Image Source: Pixabay