Will reduce demand, lead to job losses: Apparel body on proposed GST hike

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Will reduce demand, lead to job losses: Apparel body on proposed GST hike - Business Standard

Quick Summary:

The Clothing Manufacturers Association of India (CMAI) has urged the government to reconsider the hike, warning that it could lead to reduced consumer demand, widespread job losses, and disruptions in the industry's value chain.

The apparel industry has expressed serious concerns over the proposed GST rate hike recommended by the Group of Ministers (GoM) on rate rationalisation.

Under the new tax structure, garments priced between Rs 1,500 and Rs 10,000 would be taxed at 18 per cent, while apparel above Rs 10,000 would fall under the highest GST slab of 28 per cent.