NEW DELHI — After a series of somersaults, including an increase in excise duty and changing the way the tax abatement is made, prices on branded garments will come down in India in the fiscal year starting April 1.
Although the excise duty on branded garments has been increased to 12 percent from 10 percent in the new budget presented last week, the duty will be charged on 30 percent of the cost of the products instead of 45 percent, which will bring down final prices.
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