The Commodity and Services Tax Board is likely to continue with Handloom products, raw silk; It recommends the status quo

A group of ministers (GOM) recommended rationalizing the rate of commodity and services tax that the Handloom and raw silk products will continue, providing relief to craftsmen and young weavors across the country.

GOM advised to maintain the status quo by maintaining the manual elements made by the weavers at the rate of GST nothing, unlike the 5 % tax that was originally considered.

Likewise, NIL GST was suggested to the raw silk and other silk weaving materials, which were reduced earlier in 5 %.

The decision, according to officials who realize deliberations, aims to protect a livelihood from traditional craftsmen who rely on fabric as a basic source of income.

Industry representatives have previously expressed his concerns that even the tax tax tax and marginal services on the elements of the hands would increase costs significantly, reduce the competitiveness of locally made products, and harm the demand.

By constantly recommending the exemption, GOM tried to balance revenue considerations and the need to support the weak sectors.

Officials have indicated that the sectors of manual and silk tissue, which is controlled by rural and semi -urban craftsmen, are intense, but they work with low margins.

The recommendations of the committee will now be taken by the GST Council at its next meeting in New Delhi next week.

If it is accepted, this step will be considered as a recognition of the cultural and economic importance of weaving hands and silk production, both of which are an integral part of the heritage and export basket in India.