GoM reportedly considering raising GST thresholds for textiles, footwear to increase consumption

In order to increase affordability and consumption, the Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalisation is thinking about lowering the price ceiling for the lowest tax bracket on textiles and footwear, according to Government sources. Raising the threshold to US $ 14 (Rs. 1200) or US $ 17.51 (Rs. 1500), below which a reduced GST rate will apply, is something the GoM o…