Pre-Budget Memorandum By KHAGA

KHAGAPresident of Karnataka Hosiery and Garment Association (KHAGA), Mr. Manoj Kumar Garg has urged the union finance minister, Mr.  Arun Jaitley for a total phase-out of CST as readymade garment industry is regularly paying it @2 per cent.

In a pre-budget memorandum to the finance minister, Mr. Garg said that the proposed GST is likely to be implemented from April next. By the time GST is implemented, CST value should become zero per cent necessitating a necessary action, he said.

Expressing concern over irregular supply of C-Form to traders, Mr. Garg said “it puts additional work load on traders and compels them to bear the brunt of red-tapism and harassment.

He said at present VAT and income-Tax Audit is required on the turnover of Rs. @10000000/-, which should be increased to Rs. @20000000/- to help the medium segment traders. “We traders feel that the way inflation has gone up, it will help us to a great extent,” Mr. Garg added.

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