Textile sector not affected post GST; Three-pronged reason for no 'Nil' rated fabrics

Finance Minister Arun Jaitley clarifies in Rajya Sabha today that organized traders & unorganized sellers in Textile Sector have not been affected by GST; As per the rates notified, Silk, Wool & Cotton fibre will attract Nil rate, yarn – 5%, fabrics – 5% with no refund of unutilized ITC, garments and made-ups of sale value < Rs. 1000 per piece – 5% while sale value > Rs. 1000 per piece – 12%; Whereas, manmade fibres / filaments will be taxed as follows �...