GST relief: Footwear to get cheaper? Rate on apparels priced up to Rs 2,500 cut to 5%

The GST Council is expected to approve significant tax rate changes for footwear and apparel, potentially reducing the tax burden on consumers. Items priced up to Rs 2,500 may fall under the 5% GST slab. The council also intends to eliminate the 12% and 28% slabs, streamlining the tax structure and promoting economic transparency.