You are here: Home » Economy & Policy » News » GST
Business Standard

Low-cost garments to become cheaper by 2-3% on low GST levy

However, discounts and freebies seen coming down under new tax regime due to squeeze in margins

Dilip Kumar Jha  |  Mumbai 

The maximum retail price (MRP) on garments is likely to decline by 2-3 per cent with the rollout of new arrivals expected in a month, due to lower tax levy under the Goods and Services Tax (GST) than prevailing previously. The GST council, in its meeting held last month, fixed the tax rate at 5 per cent on readymade garments priced at Rs 1,000 or less, and 12 per cent on those priced beyond, against the existing uniform central levy of 7 per cent. However, the tax rate works out to 18 per cent and 28 per cent on some machinery products in the value chain under GST against their ...

TO READ THE FULL STORY, SUBSCRIBE NOW AT JUST Rs 149 A MONTH

Key stories on business-standard.com are available to premium subscribers only.

LOGIN

EMAIL / USER NAME
PASSWORD
REMEMBER ME Forgot password?

Not a member yet ? Resister Now

Connect using any below

  • Don't lose the opportunity of saving $26.77 per month
  • Don't lose the opportunity of saving $26.77 per month
Total Amount
Rs. 0.00
To proceed, kindly select a subscription package

WHAT YOU GET

On Business Standard Digital

  • Access your subscription from anywhere. Be it your computer, tablet or smartphone using a browser or the App, Your Choice.
  • Access to exclusive content, features, opinions and comment, hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get all the news upates at the end of each day through E-Mail.
  • Pick the industry that you want to track. And get a daily news letter specific to that industry. Cut out the clutter.
  • And stay on top of your investments. Track stock prices in your portfolio
  • Access 18 years of archival data

On Digital

  • Seamless access to WSJ.com with your Business Standard digital account.
  • Experience the best of the Journal's reporting, video and interactive features.
  • Read about the people and events shaping business, finance, technology, politics, technology and culture.
  • Stay informed with newsletters - an easy way to get WSJ content straight to your inbox - making life easier on your busiest days.
  • More business executives read the Journal globally than any other publication.
*Note :
Our Partners are proud to be associated with this initiative and will contribute Rs 100 x 6 months thereafter, standard rate of Rs 149 will be charged.
Offer valid for Indian residents only
Requires you to share personal information like PAN, Date of Birth, and Income.
*Annual saving on WSJ subscription price of US$ 347.88 (12 months @ US$ 28.99 per month)
* 1US$ = 67.50 INR.
*Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital
RECOMMENDED FOR YOU