From the Editors Desk  
Editorial.....
The GST Council has finalised the tax rates for textiles and apparel under the Goods and Services Tax (GST) regime which is to be implemented from July 1. The Council has made a distinction between various items and textiles and clothing.
GST Council has fixed GST at 5 per cent for readymade apparel priced below Rs 1,000, whereas the readymade garment above Rs. 1000 would be taxed at 12 per cent. In the textiles category, no tax would be levied on silk and jute fibre. Cotton and natural fibre will be taxed at 5 five per cent. Man-made fibre and yarn will attract 18 per cent tax rate. All other fibres and yarn would have a uniform 5 per cent rate. 
The textile industry in totality welcomed the GST rates. However, insiders are of the view that the multiplicity of rates will lead to interpretational issues and make the things more complicated. In our view, GST rates are simple and it will benefit the entire value chain. It will also solve the issues arising out of the current differential tax regime. This simplified GST rates would promote fibre neutrality, innovation, technology development and productive efficiency in the sector.  
Besides GST, the Government should also address other taxation issues such as draw back rates to take into account the unrebated duties under GST and continue the ROSL scheme etc. We hope that these issues will also addressed by the Government very soon. All these significant steps would play a significant role accelerating growth in the market which would held to consolidate position in the international markets.
Initially, industry peoples will face difficulties in implementing new taxation system but I hope with the passage of time, GST will be adopted by the industry. 


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