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CLOTHES BELOW RS.2,000 TO ENJOY LOWER GST?

Clothes below Rs.2,000 may enjoy lower GST of 5% against 12% if finance minister NirmalaSitharaman considers the suggestion proposed by Retailers Association of India (RAI). They suggested that a 5% tax on GST on apparels and clothing should be increased to Rs.2,000 per piece from the current Rs.1,000 per piece .

RAI also suggested that the retail industry could be benefitted if GST on branded and unbranded cereals and food grains can be declared tax free . They also suggested the govt to introduce ‘Tax Refunds for Tourist Scheme’ stating it won’t only increase tourism but also consumption . RAI also glossed over the need for digitalisation and enabling digital payments at cheaper rates than cash for retailers . This will also fulfil Prime Minister NarendraModi’s vision of a digital and cashless India .

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