The GST Council’s 45th meeting was held on September 17, 2021 in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the recommendations relating to changes in GST rates to mitigate inverted duty structure. In this regard, Notification No. 14/2021- Central Tax (Rate) dated November 18, 2021 has been issued which is to be applicable w.e.f. January 1, 2022, to amend Notification No. 1/2017- Central Tax (Rate) dated June 28, 2017.

Through this notification amendment has been made to change GST rates on textile, footwear, etc. from 5% and 18% to 12% to overcome refund of Inverted Duty Structure w.e.f. January 1, 2022.