India Inc has the hailed the GST Council’s decision to defer the proposed GST hike on textiles. The council has deferred the hike on the opposition from state governments and the industry. It had earlier proposed a GST hike on apparel from 5 to 12 per cent.

Bimal Jain, Chairman, IDT Committee, PHDCCI said, deferment will give a much needed impetus and support to the sector. The Confederation of All India Traders (CAIT) has also hailed the decision. It urged the council the decision to increase the GST rate on footwear also. CAIT also urged the FM to constitute a task force to consider the intricacies of the taxation system, simplification and rationalization, increase in tax base and revenue to the government.

The task force may be formed under the chairmanship of the Chairman of the Central Board of Indirect Taxes, which should include representatives of trade beside senior officials, added CAIT.