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Apparel and footwear stocks rally after GST rate cut

Most apparel and footwear stocks surged on Thursday after the Goods and Services Tax (GST) Council approved a significant tax rate cut. Chaired by Finance Minister Nirmala Sitharaman, the GST Council announced a reduction in the tax on apparel and footwear priced up to Rs 2,500 to 5 percent, down from the previous 12 percent and 18 percent...

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