Effective January,2022: GST on apparel, textiles & footwear to shoot up from 5% to 12%
20 November 2021, Mumbai:
The GST hike was notified by the Central Board of Indirect Taxes and Customs (CBIC) on November 18.
The government has increased the goods and services tax (GST) applicable on finished products such as apparel, textiles, and footwear from 5 percent to 12 percent, effective January 2022.
This was notified by the Central Board of Indirect Taxes and Customs (CBIC) on November 18.
GST rate on fabrics has been increased to 12 percent from 5 percent from January 202 and GST on the apparel of any value has been increased to 12 percent, compared to earlier when pieces priced up to Rs 1,000 were subject to 5 percent GST.
The Clothing Manufacturers Association of India (CMAI) on November 19 said it was “deeply disappointed" at the government’s decision to hike GST rates on apparel, reports said.
(The news article has not been edited by DFU Publications staff)
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