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Tag: GST

RS Clears GST Statute Bill
Apparel and Textile News Trade Info News

RS Clears GST Statute Bill

With the Rajya Sabha yesterday voting to approve the constitutional amendment that will help usher in the Goods and Services Tax (GST), the country took a big step towards a comprehensive tax change and single biggest reform initiative. The government estimates that GST will radically transform the $2 trillion economy and help boost GDP by […]

Retailers Seek Tax Benefits In The Union Budget
Apparel and Textile News Retail News Trade Info News

Retailers Seek Tax Benefits In The Union Budget

Apparel retailers expect a continuation in current tax benefits in the forthcoming Union Budget 2016-17 and are seeking additional reductions both in taxes directly related and not directly related to the industry. “The expectation is to address the problems of the sector at large,” Arun Ganapathy, CFO of Spykar said. “It is imperative that the […]

KHGA Pre-Budget Memorandum to CM
Apparel and Textile News Trade Info News

KHGA Pre-Budget Memorandum to CM

Karnataka Hosiery and Garment Association (KHGA) appealed to the state chief minister to allow that the tax rate in connection with the coming GST at the business to consumer level should be levied as inclusive of all taxes. In a pre-budget memorandum to the chief minister, the association urged the government to look into the […]

Govt Decision On Duty Drawback Hailed
Apparel and Textile News Trade Info News

Govt Decision On Duty Drawback Hailed

The Southern India Mills’ Association (SIMA) has hailed the center’s decision for considering its pleas and enhancing the drawback rates and value caps for various value added products such as yarns counts in 100s and above, fabrics with less than 200 grams per sq.mtr, knitted and woven garments. On November 16, the government notified the […]

KHAGA
Apparel and Textile News Apparel Brands and Companies

KHAGA Opposes GST

Karnataka Hosiery and Garment Association (KHAGA) had said proposed Goods and Service Tax (GST) is not in the ‘Standard Format’ of the GST and it is a dual Tax on which both state and centre will collect tax on a single transaction of sale of supply of Goods and Service. The trade and industry have […]

Apparel and Textile News Apparel Brands and Companies Ministry of Textiles News

No Incentive For Apparel In Union Budget

Union Budget 2015-16 presented recently by finance minister, Arun Jaitley has no measures on promoting apparel manufacturing in the country, an expert of India’s clothing and retail industry said. “This (Budget) is meant to be a ‘Make in India’ Budget and what is disappointing is that there are no measures for encouraging or promoting apparel […]

Apparel and Textile News Apparel Brands and Companies Ministry of Textiles News

High Expectations In Union Budget From Textile Industry

The textiles industry is eagerly awaiting Union Budget 2015 as it is likely to unveil several new schemes and benefits for the industry. Introduction of GST, extension of TUFS, reduction of interest rates, taxation benefits, and investments in innovation and infrastructure are few of the many demands from the industry for the ensuing budget. Expectations […]

Apparel and Textile News Ministry of Textiles News

Ensuing Budget To Bring Relief, Expects Gujarat Textile Industry

The Gujarat textile manufacturers are looking ahead to tax cuts in the ensuing union budget which will help the industry come out of its current crisis. Finance minister, Mr. Arun Jaitley will present his first full year budget on February 28. South Gujarat Textile Processors Association president, Mr. Jitendra Vakharia said that industrialists of Surat […]

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