GST Rates increased for Textile Industry. How to deal with the increase in rates?

The following video covers this topic in detail. It provides solution of how to deal with the increase in rates.

Change in Effective Rate of Tax – Section 14

The new rates will be effective from 1st January 2022. The provisions of section 14 of the Central Goods and Services Tax, 2017 will be applicable for such change in rate of tax. The following table will help you determine the correct rate of tax for transactions which occur near the cut off date i.e. 1st January 2022.

In the table below, Before means Before 1st January 2022 and after means after 1st January 2022.