Karnataka Hosiery and Garment Association (KHAGA) has urged the commissioner, commercial taxes to reduce the rate of Value-Added Tax (VAT) on readymade garment from the existing 5.5 per cent to four per cent.
In a pre-budget discussion with the commissioner, the KHAGA said at present VAT is required on the turnover of Rs. 1 crore which should be increased to Rs. 2 crore to help medium segment traders.
Organised by the Federation of Karnataka Chamber of Commerce, the association during the discussion also demanded for a simpler provision for the VAT. KHAGA president, Mr. Manoj Kumar Garg, former presidents, Mr. Sajjan Raj Mehta and Mr. P H Rajpurohit were present at the discussion.
