GST on garment job works may be lowered to 5%

The GST Council in likely to consider this week lowering of tax rates for job works for making garments to 5 per cent from 18 per cent, a source in the finance ministry has said. The panel, headed by Finance Minister Arun Jaitley and comprising of representatives of all the 29 states, is also likely to consider removing anomaly in taxation in cases where the intermediate goods are taxed at the hig…