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India Announces Brand Clothing Only Levy 4.5% Consumption Tax
India
Customs and
Excise tax
The Central Bureau (CBEC) announced on April 8th that
Brand clothing
The effective consumption tax is only 4.5%, while the small businesses are exempt from tax.
CBEC said in a notice that the manufacturer of a turnover of 40 million rupees is a small business and is exempt from the central consumption tax.
This tax is reduced by 15 million rupees.
In retailing, small businesses with a turnover of 89 million rupees are exempt from small businesses with 35 million rupees.
Although the government budget impose a 10% central consumption tax on brand clothing, garments and textiles, the effective tax rate is only 4.5%.
The tax rate is 4.5% of the retail sales price because of some tax relief.
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