New delhi, Sept. 3 -- The GST Council is likely to have approved lowering the GST rate on footwear and apparel priced up to Rs 2,500 to 5 per cent, sources said on Wednesday.
Currently, footwear and apparel priced up to Rs 1,000 are taxed at 5 per cent. Beyond the threshold, 12 per cent Goods and Services Tax (GST) is levied.
The 56th GST Council decided to raise the threshold for footwear and apparel in the 5 per cent slab to Rs 2,500/ piece, from Rs 1,000/piece, the sources said.
Published by HT Digital Content Services with permission from Millennium Post.