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Textile Traders discontented with GST Implementation in Gujarat

After the announcement by government to reduce the GST rate on yarns from 18 per cent to 12 per cent and increase in basic customs duty on polyester fabric imports from 10 per cent to 20 per cent, textile traders in Gujarat still not content with the GST implementation. Relief in the filing of GST returns was also pronounced. The traders in the state feel these measures are just to…
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Apparel and Textile News

Memorandum to boost economy & employment by SIGA

The South India Garment Association (SIGA) in a letter to the prime minister of India regarding the new tax regime has asked to reduce GST rate in order to boost employment which will take country’s economy to the next level. With high hopes and positive note Trade & Industry welcomed the Goods & Service Tax the biggest tax reform with expectation that •    The retail prices will be reduced because…
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Apparel and Textile News

Promoting GST and Digital Payments at District level

Maharashtra government has decided at a meeting in Mumbai to form district-level committees comprising senior officials and representatives of the Confederation of All India Traders (CAIT) to monitor acceptance and adoption of goods and services tax (GST) and digital payments among traders and render assistance to resolve related issues. The meeting between senior government officials and CAIT representatives was held as few days back prime minister directed to chief secretaries…
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Apparel and Textile News

12% sales growth targeted by Shoppers Stop

Popular retailer Shoppers Stop Ltd. is looking at 12 per cent sales growth in 2017-18 and focusing on improving the profitability, company sources said. "For the entire year, we are looking at 12 per cent overall sales growth and the profitability growth should be double of the sales growth bottomline of which should be 25 per cent," company's managing director Govind Shrikhande has said. He said the retailer was eyeing…
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Apparel and Textile News

1,399 Textile mills operational, 682 closed

Textiles minister Smriti Irani has informed the lower house of parliament recently that 682 textile mills closed as on June end this year, 232 were in Tamil Nadu, 85 in Maharashtra, 60 in Uttar Pradesh and 42 in Haryana. Among the 1,399 operational textile mills, 752 were in Tamil Nadu, followed by 135 in Maharashtra and 112 in Andhra Pradesh. Referring that the textile industry has attracted the highest foreign…
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Apparel and Textile News

Switching over to new tax system by Amritsar Textile traders

After holding protests for long against the imposition of the GST on unstitched clothes, a large number of textile traders in Amritsar, once known as Manchester of India, have started approaching the District Excise and Taxation Office to get them registered. Over 90 per cent of the VAT dealers have switched over to the new tax system. A leading yarn manufacturer, Kamal Dalmia, said apart from five per cent GST…
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