Powerloom units will take a hit if the GST on man-made fabric (MMF) is kept at the proposed 18%, industry officials said. Powerloom accounts for more than 86% of the total MMF production in India while the rest comes from other segments like handlooms, hosiery and mills. Incidentally, the GST on …
Tag: J Thulasidharan
Lower GST on job work of textile yarn to help SMEs: CITI
Reduction in GST rates on job work of textile yarn and fabric manufacturing to 5 per cent from 18 per cent will give a leg-up to SMEs in power loom, knitting and processing sectors, said CITI. According to Chairman of the Confederation of Indian Textile Industry (CITI) J Thulasidharan, reduction …
GST may increase prices of garments
Garment and apparel prices may increase under the Goods and Services Tax (GST) regime with ‘job work’ inviting 18% levy. Under the current system, there is no tax on job work as it is considered a “subsequent process” in the manufacture of textile products and not a service. However, under GST, t…
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…