What Is The Inverted Duty Structure And Why Is The GST Council Rectifying It?

In its 45th meeting, the Goods and Services Tax (GST) Council on September 17 agreed to correct the inverted duty structure on footwear and textiles from January 1, 2022. The Council also decided that a group of ministers (GoM) would be formed to examine the impact of the inverted duty structure on major sectors. To correct the problem of inverted duty structure, the Council would now be consideri…