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Garment makers wary of GST rate hike on readymades
Mint Hyderabad
|December 05, 2024
A GST hike on readymade garments could dampen the wedding season.
An increase in the goods and services tax (GST) rate on certain ready-made garments, currently being discussed by a ministerial panel, could be a dampener for the ongoing wedding season, textile manufacturers said.
According to estimates from the Clothing Manufacturers Association of India (CMAI), bridal wear accounts for 10-12% of the total clothing market, underscoring its significance.
This story is from the December 05, 2024 edition of Mint Hyderabad.
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