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Mumbai (Maharashtra) [India], September 15: The GST Council, at its 56th Meeting held on 3rd September 2025, approved the rationalization of GST rates by moving to a two-slab structure of 5% and 18%, abolishing the existing 12% and 28% rates. These revised rates will come into effect from 22nd September 2025.
As part of this reform, the GST rate on manmade fibres has been reduced from 18% to 5%, and on manmade yarns from 12% to 5%.
Welcoming this landmark announcement, Shri Shaleen…
