Now in this blog post we explain the GST effects on ready made garments in india how the gst make changes in the prices of the products here listed:
- COTTON AND FIBER there was no previous tax on this but now have 5% GST.
- All Categories of YARN there was no previous tax on this but now have 5% GST.
- SILK AND JUTE there was no previous tax on this but now have 5% GST.
- MAN-MADE YARN, MAN-MADE FIBER, SYNTHETIC YARN there was no previous tax on this but now have 5% GST.
- FABRIC there was no previous tax on this but now have 5% GST.
- BRANDED GARMENTS PRICE MORE THAN RS 1000 2% without CENVAT and 12.5% with CENVAT (Chapter 61,62,63) : 7.5 % (60% Tariff Value) now have GST 12%.
- OTHER GARMENTSGarments/ articles of Cotton and not containing other textile : Nil (W/o Cenvat) and 6% w.o. CENVAT also Others : Nil (W/o Cenvat) and 12.5% w.o. CENVAT but now have 5% GST(no overflow of credit allowed).
- According to the GST tax rates, GST rate garments and apparels is 5 % up to ₹1,000, beyond which they are taxed at 12 percent. The same rates is also hold true for other readymade apparel such as salwar kurtas, dresses, skirts, tops, and jeans. Further, synthetic and other manmade fibers will attract a higher tax of 18 per cent while other natural fibers (except silk and jute) will be taxed at 5 percent.
HERE ARE LIST OF SOFTWARE FOR GARMENTS INDUSTRY WITH GST LISTED:
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