In a recent development, representatives from the garment industry convened with senior officials from the Ministry of Micro, Small & Medium Enterprises (MSME) and the Ministry of Textiles to tackle challenges stemming from recent amendments to the income tax law, particularly section 43(h).
During the meeting, chaired by Mr. S.C.L. Dass, Secretary of the Ministry of MSME, and attended by Shri Piyush Goel, Minister of Textiles, industry leaders presented a detailed memorandum outlining the adverse impacts of the legislative changes on the garment sector.
Notable attendees included Anurag Singhla (SIGA President), Rajesh Chawat (Secretary), Jaspreet Singh, Vivek Gadodia representing Delhi, and Pawan Bansal from Hyderabad, alongside teams from IFGA and SIGA.
Reassurances were provided by government officials that the raised concerns would be expeditiously communicated to the Ministry of Finance for thorough deliberation. Furthermore, Secretary Dass and Minister Goel committed to offering recommendations to alleviate the challenges confronting the industry.
This collaborative effort between industry stakeholders and government representatives signifies a proactive approach in addressing regulatory hurdles affecting the garment sector, demonstrating a shared commitment to fostering a favorable business environment and ensuring sustainable growth within the industry.
Indian Apparel.
