New Delhi: Khadi yarn, Gandhi topi, India’s National Flag will not attract any tax under the GST regime, while imitation jewellery, pearls and coins will carry 3 per cent levy from July 1. Besides, the GST Council on June 3 decided to include rudraksh, wooden khadau, panchamrit, tulsi-kanth…
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Textile industry welcomes govt’s move to keep low GST rates for natural fibres below Rs 1k
Confederation of Indian Textile Industry (CITI) has welcomed the move to keep the GST rates for all natural fibres including cotton, cotton yarn, fabrics and readymade garments valued below Rs 1000 at 5 per cent. CITI Chairman J Thulasidharan complimented the government for keeping the rates at l…
3% GST on gold to hit unorganised sector, say industry experts
The GST Council’s decision to impose a 3 per cent GST on gold will not only make jewellery costlier but also lead to a higher incidence of illegal gold trade, industry experts have said. They also said bringing the unorganised gold sector into the GST ambit will be a challenge. “With GST, the tot…
GST fixed on gold, diamond, footwear, others: All you need to know
The GST (Goods and Services Tax) Council on June 3 fixed the goods and services tax on commodities like gold, footwear, biscuits and textile. GST on most goods were finalised last month. The tax incidence on bidi too was fixed, however, the GST on cigarettes is likely to be decided in the next co…
Will the Environment Ministry order really ruin leather and meat processing industries?
Agra | Kolkata: Off the dusty road, behind the glass front of a rather ordinary building, hundreds of workers are bent over pieces of brown leather. They are cutting them into 22 different shapes that make a Bugatti shoe. Some are crimping the slices; others are skiving them; a few are stitching …
Odisha export turnover doubles
Export turnover of Odisha jumped whopping 114 per cent this year vis-a-vis last year. while the state had exported worth Rs 19082 crore in 2015-16, the export has gone up to Rs 40,872 crore during 2016-17, an official source said. The growth has been mainly due to increase in the value of exports…
CII to focus on cluster development in Southern States
To accelerate growth in Southern States, the Confederation of Indian Industry (CII), Southern Region, will work with State governments for the development of industrial corridors and push structural reforms on labour, land, and agriculture. “CII will coordinate with the State governments in imple…
Shell Lubricants to lean on smaller business segments to achieve target
Shell Lubricants is planning to focus on some of the segments where it has comparitively less presence so far, in order to achieve its target of becoming the largest international lubricant player in the country in the next three years. The company is already a leading player in wind turbines, co…
Dharmendra Pradhan assures support to tap Bamboo resources of Arunachal
Petroleum and Natural Gas Minister, Dharmendra Pradhan has assured support to tap the huge bamboo resources of Arunachal Pradesh that can change the economy of rural masses. Pradhan gave the assurance when Arunachal Pradesh Chief Minister Pema Khandu and Union Minister of State for Home Kiren Rij…
100 Indian SMEs to participate in Canada-India Business Symposium on June 9
The Canada-India Business Symposium at Toronto’s Hyatt Regency on June 9 is a joint endeavour of the Indo-Canada Chamber of Commerce (ICCC), the Indo-Canadian Business Chamber (ICBC), the Canadian High Commission in India, and the Consulate General of India in Toronto. More than a hundred Canadia…