Excise duty on footwear slashed

New Delhi, July 10 (IANS) Finance Minister Arun Jaitley Thursday proposed a reduction in excise duty on footwear from 10 percent to 6 percent. "Excise duty is proposed to be reduced on footwear of retail price up to Rs.1,000 per pair," he said...

cityairnews cityairnews Jul 10, 2014 12:30 0

Excise duty on footwear slashed

New Delhi, July 10 (IANS) Finance Minister Arun Jaitley Thursday proposed a reduction in excise duty on footwear from 10 percent to 6 percent.

"Excise duty is proposed to be reduced on footwear of retail price up to Rs.1,000 per pair," he said presenting his maiden budget in the Lok Sabha.

The proposal brought cheer to shoe-lovers.

"Now we will not compromise. We will have pairs matching all our dresses. This is actually a very good news for us," Madhu Kumari, a research fellow at Jawaharlal Nehru University in the capital, told IANS.