GST rate cut on apparel below ₹2,500 to boost sectoral revenue by 200 bps: Report

The GST Council, led by Finance Minister Nirmala Sitharaman, had last month rationalised the tax rates on apparel up to ₹2,500 to 5 per cent. Earlier, clothes below ₹1,000 had a 5 per cent GST, and those up to ₹2,500 were taxed at 12 per cent.

Industry