Apparel industry raises concerns on increase in GST on higher priced clothes, fear rise of grey market
Apparel industry players have raised concerns about the increase of GST rate on garments priced above ₹2,500 from 12 per cent to 18 per cent.
Tag: apparel industry gst
Apparel industry slams proposed GST hike
The apparel industry has expressed serious concerns over the proposed GST rate hike recommended by the Group of Ministers (GoM) on rate rationalisation. Under the new tax structure, garments priced between Rs 1,500 and Rs 10,000 would be taxed at 18 per cent, while apparel above Rs 10,000 would fall under the highest GST slab of 28 per cent. The rate for apparel priced up to Rs 1,500 would remain at 5 per cent.
GoM for GST cut on educational items, hike for high-value apparel
The Group of Ministers (GoM) on GST rate rationalisation is understood to be in favour of reducing the tax rate on many items including ”education materials” to 5% from 12% to provide relief to large sections of people.
Interim Budget: Apparel industry seeks uniformity in GST across value chain
Ahead of the central government’s interim budget, the Apparel Export Promotion Council (AEPC) has sought uniformity in Goods and Services…