New Delhi: Apparel stores in the capital continue with attractive schemes, but buyers much to their dismay found out that most brands have gotten costlier on account of the goods and services tax (GST) as offers are not inclusive of taxes in many cases. Executives in some of the stores said that earlier, the discounts were inclusive of taxes. GST will subsume all major levies, including excise, service tax and VAT, unifying 17 different taxes, and make India a single market. Under the indirect tax regime that kicked off from today, man-made apparel up to Rs1,000 will attract a 5% tax, lower than the existing 7%. Another customer said there is hardly any branded garment below Rs1,000 on which the tax has been reduced.

Source: Mint July 01, 2017 12:00 UTC