Vanaja Sarna, CBEC Chairperson has clarified that there will be no change in the GST rates unless and until there is an anomaly or the rates are unjustified. The statement was released when CBEC slashed the textile traders’ demand of lowering the GST on textiles. The Central Board of Excise and Customs (CBEC) has received representations from textile traders and is looking into their demands.
Sarna while attending the CII event said, “It is an issue that has snowballed but it is not something which cannot be settled… The issue is that textile sector is taxed for the first time. So anybody who comes into the net would feel the pinch”. She added the industry will have issues relating to GST rates, laws and rules and there is still time for the industry to present its wish list as July one was not the end date.
GST was rolled out on July 1 and has four tier tax slab of 5, 12, 18 and 28%. Over 1,200 goods and 500 services have been fit into these tax slabs.