WebNov 19, 2024 · The Central Board of Indirect Taxes and Customs has notified a uniform goods and services tax rate of 12 per cent on fabrics, apparel, and footwear to correct the inverted duty structure. The changed rates will come into effect from January one, 2024. TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH. WebOct 11, 2024 · The fitment committee has proposed increasing the rate on footwear having sale value less than Rs 1000 to 12% from 5%. These rate changes are scheduled to be implemented with effect from 01.01.2024. Therefore, the present ruling will be valid till such changes in GST rate are implemented.

CAIT, IFA urges finance ministry to withdraw the hike in GST on …

WebDec 31, 2024 · The GST rate was raised to 12 per cent, effective from January 1, 2024, from 5 per cent for sale value up to Rs 1,000 per pair in the case of footwear. Medicine … WebDec 31, 2024 · Government has now inserted New Entry 171A1 in ‘Schedule II –6%’ by which it has now taxed from 1st January Footwear of sale value not exceeding Rs.1000 per pair at the Rate of 12% (6% SGST+6% CGST). MINISTRY OF FINANCE (Department of … isaiah childs football

GST Rates 2024 – List of Goods and Service Tax …

WebDec 30, 2024 · The GST Council has decided to increase the GST rates levied on the prices of footwear, irrespective of their prices, to 12 per cent from 5 per cent. The rates of … WebNov 29, 2024 · The government has raised the GST (i.e., goods and services tax) on finished goods such as clothes, footwear, and textiles from 5% to 12%, beginning … WebDec 30, 2024 · With effect from January 1, 2024, all footwear, irrespective of prices, will attract GST at 12 percent, and all textile products, except cotton, including readymade … oled tv prices coming down