Goods and services tax and Indian rupee.

Photo: The Statesman

Govt Hikes GST Rates On Textiles, Footwear From 5% To 12%

Goods and services tax (GST) was increased to 12% from 5% by the government on finished products such as apparel, textiles, and footwear. The notification was issued by the Central Board of Indirect Taxes and Customs (CBIC) on November 18. However, the Clothing Manufacturers Association of India (CMAI) expressed its disappointment with the decision. Reportedly, apparel cost is expected to increase by 15-20% without the hike in GST rates.

Sat, 20 Nov 2021 - 05:00 PM / by Brijesh Goswami

Tags: GST, Textiles, footwear, CBIC, CMAI

Courtesy: Money Control

Khadim showroom

Photo: Khadims

Khadim India's Revenue Grows By 83% In Q2FY22 From Q1FY22

Indian footwear company Khadim announced that it has registered a growth of 83% in the second quarter of the financial year 2022. The revenue increased from Rs 882.30 million in Q1FY22 to Rs 1616.46 million in Q2FY22. The company registered a net profit of Rs 64.75 million in Q2FY22 compared to a loss of Rs 108.90 million in Q1FY22. ''We're looking forward to doing good business,'' said CEO Ashok Chotrani.

Fri, 12 Nov 2021 - 05:01 PM / by Brijesh Goswami

Tags: Khadim India, revenue, net profit, footwear, Q2 2022

Courtesy: ANI

Crocs

Photo: Bing

Crocs Q2 Revenue Soars 93.3%; To Go Zero-Carbon Soon

"Crocs" goes from subversively cool to the mainstream as its footwear is being worn from the kids to the adults. Reportedly, the shoe-making company has gone from making $24,000 in annual sales to $1.4 billion in 2020. The revenue also soared 93.3% to $640.8 million in the second quarter (Q2) of 2021. Crocs also aims to introduce zero-carbon emissions in its business by 2030.

Sun, 25 Jul 2021 - 09:15 AM / by Balaji L

Tags: footwear, revenue, crocs, zero carbon emissions

Courtesy: Retail Dive