There may be a shock from the Central Government during the wedding season, in fact there is a GST Council meeting on 21st December and the GST on branded clothes may be increased. In such a situation, if your wedding is after the month of December and you have not yet bought clothes for the wedding, then you should do the shopping before they become expensive.
At present, different GST is charged on readymade clothes in four slabs, in which the tax ranges from 5 to 28 percent. After the meeting to be held on December 21, the Group of Ministers (GoM) may increase the tax collection on branded readymade garments.
This GST slab is on readymade clothes
Although the Central Government has made 4 slabs of GST, but GST is applicable in three slabs on readymade clothes. 5% GST is charged on clothes up to Rs 1,500, 18% GST on clothes between Rs 1,500-10,000 and 28% GST on clothes above Rs 10,000.
This much tax can be imposed on readymade clothes
At present, GST is applicable on readymade clothes in three slabs, a major decision regarding this can be taken in the GST Council meeting on 21st December. In the GST Council meeting, the Group of Ministers may increase the tax slab on readymade garments. The 5 percent tax slab can be removed in the GST Council meeting. In such a situation, 18 percent and 28 percent GST tax may have to be paid on readymade clothes after December 21.
28 percent GST will be imposed on branded clothes
At present, the government collects GST on clothes in three slabs according to the price of clothes, but in the GST Council meeting to be held on December 21, the government can put branded clothes in the slab of 28 percent, after which branded clothes will be more expensive than before. Will become expensive.
148 items may become expensive
The Group of Ministers will propose changes in GST rates on 148 items to the GST Council and the GST Council will take the final decision on this. GST Council meeting will be held on December 21 on the report of the Group of Ministers. The council will be chaired by Union Finance Minister Nirmala Sitharaman and finance ministers of states will also participate in it.