12% GST to be imposed on man-made yarn, fabrics & apparels from Jan 1: Fin Min

  • On Sunday, the Finance Ministry of India announced the new GST rates that will be imposed on man-made yarns, fabrics, and apparel.

  • The man-made yarns, fabrics, and apparel will attract 12% GST from January 1, 2022.

  • Currently, the tax rate on MMF, MMF yarn, and MMF fabrics is 18%, 12%, and 5%, respectively.

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