India to Impose Flat GST Rate on Footwear, Textile Imports
India will introduce a flat 12% Goods and Services Tax for most footwear and textile imports beginning Jan. 1, 2022, the Hong Kong Trade Development Council reported Oct. 4. The rate, which won’t apply to certain cotton products, will replace…
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the current “complex” system that taxes different textile materials and footwear 5% to 18%, HKTDC said. It will also address a regulatory inconsistency that imposed different charges on certain inputs to finished products.