Industry divided over 12% uniform GST rate on apparel and footwear

The Central Board of Indirect Taxes and Customs notified a uniform goods and services tax (GST) rate of 12 per cent on fabrics, apparel, and  footwear  to correct the inverted duty structure, evoking mixed response from companies. Large manufacturers and retailers are mostly happy with the move since the 12 per cent uniform tax slab addresses concerns about the inverted duty structure. T…