GST rate on fabrics, apparel and footwear –
The Central Board of Indirect Taxes and Customs has notified a uniform goods and services tax rate of 12 per cent on fabrics, apparel, and footwear, from January 2022. Earlier the GST Rate was 5 per cent for sale value up to Rs 1,000 per piece.
Goods and Services Tax (GST) –
In India, GST Bill was first introduced in 2014 as The Constitution (122nd Amendment) Bill. This got an approval in 2016 and was renumbered in the statute by Rajya Sabha as The Constitution (101st Amendment) Act, 2016. Central GST to cover Excise duty, Service tax etc, State GST to cover VAT, luxury tax etc.
Article 246A – States have power to tax goods and services.
Article 279A – GST Council to be formed by the President to administer & govern GST. It’s Chairman is Union Finance Minister of India with ministers nominated by the state governments as its members.