5% GST to be applicable on manmade fibre in upcoming budget

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The centre has received recommendations regarding a uniform GST of 5 percent to be made applicable on manmade fibre or yarn like cotton. The centre has already begun the exercise of Budget 2021-22 consulting various sectors and stakeholders and might consider the recommendations in the upcoming budget.

“It will help the value chain players at every stage without any blocking of working capital,” according to the pre-Budget recommendations received by the government for FY 2021-22. (MC)

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