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The Union Budget 2024-25 introduced key measures for the leather and footwear sector, according to CLE Chairman Rajendra Kumar Jalan.

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The AAP government had proposed a 5% hike in VAT on low-cost footwear that saw instant protests from MLAs and traders.

EY, Tax Partner, Bipin Sapra said, "The decrease in price of footwear is a welcome move amidst the increase in cost of living of a middle c...

Excise duty on footwear with leather uppers and having retail price of more than Rs 1,000 per pair has been reduced to 6 per cent.

The lower price points will be mainly for ladies and kids shoes, because mainly these are priced under Rs 1,000, say shoe manufacturers.

The actual benefit of reduction in excise duty on the footwear price of Rs 1,000 could be in the range of Rs 35 per pair.