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Calling for major reforms in the Goods and Services Tax (GST) structure, the Karnataka garment and hosiery sector has urged the GST Council to fix a uniform 5% rate on apparel and hosiery products and to bring petroleum products under the tax framework.
Clothing Manufacturers Association of India (CMAI) and 14 leading Garment Trade Associations from across India collectively met as a Group of Associations and under ONE INDUSTRY, ONE VOICE passed a unanimous resolution for submission to Group of Ministers (GoM) to abandon a proposal to modify GST rates in the Garment Sector, and retain the existing structure of 5% and 12%.
The Confederation of Indian Textile Industry (CITI) has raised concerns over the proposed GST rate revisions on ready-made garments, warning of potential far-reaching impacts on the textile industry, employment, and the overall economy.