Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Threshold for footwear, apparel raised
The Political and Business Daily
|September 04, 2025
FM chaired 56th GST Council cuts rate on footwear, apparel priced upto ₹2,500 to 5 per cent
THE GST Council is likely to have approved lowering the GST rate on footwear and apparel priced up to Rs 2,500 to 5 per cent, sources said on Wednesday.
Currently, footwear and apparel priced up to Rs 1,000 are taxed at 5 per cent. Beyond the threshold, 12 per cent Goods and Services Tax (GST) is levied.
The 56th GST Council, chaired by Union Finance Minister Nirmala Sitharaman and attended by state counterparts, decided to raise the threshold for footwear and apparel in the 5 per cent slab to Rs 2,500/ piece, from Rs 1,000/piece.
GST Council on Wednesday decided to do away with the 12 and 28 per cent slab and move the majority of the items from these slabs to 5 and 18 per cent respectively.
This story is from the September 04, 2025 edition of The Political and Business Daily.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Political and Business Daily
The Political and Business Daily
GDP growth likely to surpass 7 pc to cross $4 trillion in FY26, claims CEA
BUOYED by more-than-expected 8.2 per cent GDP growth rate in the second quarter, Chief Economic Adviser V Anantha Nageswaran on Friday expressed optimism that India's economy is likely to record growth of 7 per cent or higher than that in the current financial year.
1 min
November 29, 2025
The Political and Business Daily
New India never bows: PM
Says it never hesitates from protecting its people
1 mins
November 29, 2025
The Political and Business Daily
India reaches 'major power’ status on Asia Power Index
INDIA has reached \"major power\" status on the Asia Power Index-2025 on the back of economic growth and military capability based on its performance in Operation Sindoor, Australia-based think tank Lowy Institute said on Friday.
1 mins
November 29, 2025
The Political and Business Daily
Can sit in court till midnight to ensure justice for poor litigants: CJI Surya Kant
CHIEF Justice of India Surya Kant on Friday said that ensuring justice for poor litigants is his top priority and he can sit till midnight in the court for them.
1 min
November 29, 2025
The Political and Business Daily
India inks ₹7,995 cr pact with US for sustainment support of MH-60R copters
IN a bid to ensure domestic capability buildup in the long run, the Centre on Friday said it has signed a Rs 7,995 crore agreement with the United States for sustainment support of the Indian Navy’s fleet of MH60R helicopters through Follow-on Support and Follow-on Supply Support for a period of five years.
1 min
November 29, 2025
The Political and Business Daily
SIR exercise: 2 more BLO deaths in Gujarat, Bengal; TMC says CEC Gynesh has 'blood on his hands'
TWO primary school teachers deployed as booth-level officers in the ongoing special intensive revision of electoral rolls died of cardiac arrest in West Bengal's Murshidabad and Gujarat's Mehsana, sparking accusations of tremendous work pressure on them.
1 min
November 29, 2025
The Political and Business Daily
Philosophy of 'Vasudhaiva Kutumbakam' relevant today for global challenges: Prez
PRESIDENT Droupadi Murmu on Friday said amid today's unprecedented global challenges, the ancient philosophy of 'Vasudhaiva Kutumbakam' (the world is one family) is more relevant than ever.
1 min
November 29, 2025
The Political and Business Daily
India stays on high growth path in FY26 over strong domestic demand: FiMin
THE confluence of well-anchored inflation expectations, sustained public capital expenditure, and firming rural and urban demand places the Indian economy on a stable footing, positioning it to navigate emerging risks and preserve its growth momentum through the remainder of FY26, according to the Finance Ministry's Monthly Economic Review released on Thursday.
1 mins
November 28, 2025
The Political and Business Daily
Despite tariffs, India's Q2 GDP rate likely at 7.5 pc: Union Bank
INDIA'S economic growth is expected to come in strong for the second quarter of the current financial year, with GDP likely to rise 7.5 per cent, according to a report by Union Bank of India.
1 min
November 28, 2025
The Political and Business Daily
Prez nostalgic to address Odisha Assembly
Calls upon members of the House to behave in a manner that will be followed by the people
3 mins
November 28, 2025
Listen
Translate
Change font size