TIWN
New Delhi, March 20 (TIWN): Citing the concerns raised by the footwear industry as genuine, the Confederation of All India Traders has urged the Centre to rationalise the BIS standards and Goods and Services Tax on the footwear items.
Till December 31, 2021, footwears below Rs 1,000 used to attract 5 per cent GST. Starting 2022, the tax slab has been raised to 12 per cent for footwears falling in the Rs 1,000 range.
“India is a land of diversity where consumers range from an ordinary person to most affluent class and their purchase behaviour is more as per their economic strata and therefore they can’t be governed by a single yardstick, and therefore any policy or tax imposition should be levied accordingly in order to provide equitable strength to everyone and minimising the chances of any tax evasion or not complying the rules and policies,” said Secretary General of the traders’ body Praveen Khandelwal.
- With April series having expired, expect markets to turn volatile
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report