Garment Trade Associations Unite to Urge GoM Against GST Rate Revision

Garment trade associations have come together to urge the Goods and Services Tax (GST) council to reconsider the proposed revision of GST rates. The industry expresses concern over the negative impact this could have on businesses already struggling with post-pandemic recovery. According to the associations, the rate revision would lead to increased tax burdens, thereby making goods more expensive for consumers. They also highlight that such revisions would affect small and medium-sized enterprises (SMEs) that are already grappling with numerous challenges. To safeguard the interests of the textile industry, the trade bodies are calling for a reassessment and an extension of relief measures. Their collective action seeks to ensure the GST structure remains conducive to business growth and consumer affordability.