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Jaitley rules out lowering GST for textiles sector


The government on Tuesday ruled out cutting rates for the textiles sector, saying a zero per cent GST on fabrics will break the input tax credit chain for the domestic industry and make imported items cheaper. Amid protests in Gujarat by traders who are demanding rollback of 5 per cent GST on fabrics, Finance Minister Arun Jaitley said it was not correct to say that the sector was never taxed in independent India. "In fact, during 2003-04, the sector was subjected to central excise duty,” he said in a written reply in the Rajya Sabha.

Business Standard, New Delhi, 19th July 2017

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