GST rate cuts lower apparel, footwear prices for those under ₹2500
Under GST-2.0, which kicked in from today, apparel and footwear brands will pass on tax benefits to consumers as prices will drop for items under ₹2,500. Clothes and footwear priced under ₹2,500 are taxed at 5% from the earlier 12%, while those above ₹2,500 will attract higher GST of 18%. GST on leather and toys is also reduced to 5%.