GoM mulls higher GST thresholds for textiles, footwear to boost consumption: Sources

The Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalisation is considering raising the price ceiling for the lower tax slab on textiles and footwear to boost affordability and consumption, government sources said. “The GoM on rate rationalisation may suggest raising the threshold to Rs 1,200 or Rs 1,500, below which a lower GST rate will apply. The idea is to boost consumptio…