RAI has written to the Govt to reconsider the GST rate on premium products
RAI has appealed to Smt Nirmala Sitharaman - Hon. Finance Minister - Govt of India to discard the proposed GST rate revisions on premium products based on their price ranges. RAI requested govt to consider the broader economic implications and explore more balanced approaches to achieve higher collections without harming the formal retail ecosystem and consumer sentiment.
RAI's submission to FM:
RAI has also submitted similar representation to commerce Minister, Textiles Minister, MSME Minister, DPIIT and few state govts to seek their support and requested them to pursue this matter with the GST Council. Please find the link to RAI Submissions:
RAI and CMAI delegation also had a very fruitful meeting on 16 December 2024 with Shri Giriraj Singh, Hon’ble Minister of Textiles and Shri Rohit Kansal, Additional Secretary, Ministry of Textiles and requested their support to discard the proposed GST rate revisions on Apparels based on their price ranges.
Hon’ble Minister appreciated our submission and assured the delegation that he will pursue this matter with the FM.
We shall keep you posted on any development in this regard.