Apparel, textiles & footwear set to become costlier from Jan 2022

The Central Board of Indirect Taxes and Customs (CBIC) has notified an increase in Goods and Service Tax (GST) rate of apparel, textiles and footwear to 12 per cent from existing five per cent. The increased GST rate will be effective from 1 January 2022. However, GST rates on certain synthetic fibres and yarn have been lowered to 12 per cent from 18 per cent, making rates uniform.