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Related Keywords: Goods and Service Tax, introduction of GST, may bump up branded apparels prices, require to pay one tax, small and medium players, textile industry may witness inflation, things may fell in place, till third quarter of the financial year

If you like wearing branded outfits then get ready to shell out more on your next shopping as the introduction of GST (Goods and Service Tax) may bump up the price of branded apparels.

As per the Industry experts, they are expecting a tax of 12% GST. But the duties they would now be paying at the manufacturers’ end will be quite high. For worse, the textile industry may witness inflation till third quarter of the financial year in 2017-18.

Related Keywords: an input credit will lead to lowered input costs, boost Indian textile exports, easing the prices, Goods and Services Tax, GST, improve business climat in the country, increase share of export market, introduction of GST, key to facilitate industrial growth, making industry internationally competitive, textiles is concern

The Goods and Services Tax (GST) is seen as key to facilitating industrial growth and improving business climate in the country. A constitutional amendment measure, the GST Bill needs to be passed by a two third majority in both houses of parliament and by the legislatures of half of the states in the country to become law.