GST Council clears SGST, UGST | Policy News India
Home » News » Policy News » Gst Council Clears Sgst Ugst

GST Council clears SGST, UGST

Share: 
      Newsletter

READ MORE ON GSTIndian Textile IndustryPolicy News India

GSTAfter CGST (Central GST), IGST (Integrated GST) and Compensation drafts, the GST Council headed by the India’s Finance Minister Arun Jaitley has given its nod to State UTGST (Union Territory GST) and SGST (state GST). This has further paved the way for GST to become a reality on July 1.

“The 12th Council meeting approved UTGST and SGST. Officers had already done the groundwork, the drafts were already circulated. In the past meetings, the Council has already approved CGST (Central GST), IGST (Integrated GST) and Compensation drafts,” Finance Minister Arun Jaitley was quoted as saying.

The next GST Council meeting will take place on March 31 for approving rules and for placing goods and services in the 4-slab tax structure, said media reports quoting Jaitley.

Also ReadGST to be implemented from July 1

Textile industry, the second largest employer in the country after agriculture, hailed the passage of GST Amendment Bills. The industry is of the view that GST will pave way for the growth of economy and exports. For the sector, it appears to be an opportunity to bring the entire textile value chain under GST and benefit in the long run.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

Indian Govt. to trademark handmade carpets

Indian Government is mulling to introduce standards and a trademark to strengthen India’s place as the top sourcing destination of handmade carpets and...

Indian Govt. inks pact to provide cheaper loans to SC artisans, weavers

A Memorandum of Understanding (MoU) has been signed between the Development Commissioner (Handlooms) and National Scheduled Caste Finance and Development Corporation to facilitate cheaper loans to artisans and weavers belonging...

Indian Govt. not to review FDI in multi-brand retail

The Indian Government has made it clear that it is not going to review the Foreign Direct Investment (FDI) policy, which allows overseas...

BGMEA seeks exemption from Tax at Source

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the Government of Bangladesh to exempt the garment industry from Tax at Source for...

Delhi (India) garment manufacturers upset over minimum wage hike

Anil Baijal, Lieutenant Governor of the national capital of India, New Delhi, has recently cleared the Delhi Government’s proposal to revise minimum wages of industrial workers by about 37 per...

Pakistan gets GSP Plus status

European Union, which has been an important trading bloc for Pakistan, has given Generalised Scheme of Preferences (GSP) Plus status to the country...

South Africa approves grant to boost garment and textile industry

A grant of US $ 355.65 million has been approved by the Department of Trade and Industry (DTI) of South Africa to boost...

Haryana (India) Textile Policy 2017 fails to impress MSME sector

The (Micro, Small and Medium Enterprises) MSMEs in the Indian state of Haryana are not happy with the recently announced Textile Policy to...

Indian Govt. to implement schemes via KVIC for rural artisans

India’s Ministry of Micro, Small & Medium Enterprises (MSME) has decided to implement various schemes through Khadi and Village Industries Commission (KVIC), the...