Clothes, footwear to get costlier from January 2022 as GST increases from 5% to 12%
Zee News
From January 2022, the GST rate on fabrics will be raised to 12 percent from 5 percent.
New Delhi: With effect from January 2022, the government has raised the goods and services tax (GST) on finished goods such as garments, textiles, and footwear from 5% to 12%.
The Central Board of Indirect Taxes and Customs (CBIC) announced this on November 18.
From January 2022, the GST rate on fabrics will be raised to 12 percent from 5 percent, and the GST rate on garments of any value has been raised to 12 percent, compared to the previous rate of 5 percent on items priced up to Rs 1,000.
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