The Ministry of Textiles has received representations from the textile industry requesting the Centre to exempt textile jobs from service tax, and is examining it, according to a senior official. “These are the recent representations we have received from the industry. We are examining it,&…
Tag: MMF
Man-made fibre & synthetic yarn would have inverted duty structure under GST
Man-made fibre and synthetic yarn would have inverted duty structure problem as they would be levied Goods and Services Tax (GST) at 18 per cent, while man-made and synthetic fabric would attract only 5 per cent GST rate. Keeping the rates of key inputs at a higher level will affect the competiti…
Textile sector MSMEs welcome Smriti Irani with high hopes
After announcement of special package by Government of India, Textile industry looks at appointment of high profile Smriti Irani as Textile Minister with high hopes. Industry sources are looking forward to Irani to driving growth and achieving the export target of $300 billion by 2024-25. Accordi…