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Neutral GST rates for most textile segments

The impact of the Goods and Services Tax (GST) is likely to be neutral to positive across segments in the textile industry compared to the current tax regime, Information and Credit Rating Agency (ICRA) in a report said. As per the rating agency’s estimates, the effective tax incidence on cotton and man-made fibre (MMF) or […]

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June 21, 2017
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Apparel and Textile News Trade Info News

AAP Govt. Budget Slashes VAT On RMG

The Arvind Kejriwal-led Aam Aadmi Party (AAP) government in Delhi has presented a “zero-tax” Budget which slashed the Value Added Tax (VAT) on a wide range of goods to bring down prices of consumer products such as readymade garments. Deputy chief minister, Manish Sisodia, who is also the finance minister, claimed that the Delhi government […]

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March 30, 2016
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Apparel and Textile News Trade Info News

Punjab Spinning Industry Protests Against VAT Rate

Spinning mill owners of Ludhiana demand level playing field with their counterparts in other states as the spinning industry of Punjab in huge debts and units are closing down due to lack of orders. Punjab government is held responsible for pushing them in a crisis by not reducing rates of Value Added Tax (VAT) on […]

appareladmin
November 24, 2015
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Apparel and Textile News

Reduction of VAT on Cotton Urged at TN

South India Spinners Association (SISPA) has asked the Tamil Nadu government to reduce Value Added Tax (VAT) on cotton, cotton yarn and synthetic yarn from five per cent to two per cent to make the state’s spinning industry viable and enhance competitiveness of the smaller spinning units in the state. In a resolution adopted at […]

appareladmin
September 8, 2015
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Apparel and Textile News Apparel Brands and Companies Ministry of Textiles News

No VAT On Textile Traders In Telangana

The Telangana government will not impose Value Added Tax (VAT) on textile traders, state’s commercial taxes minister Talasani Srinivas Yadav has said. The minister said there is no point in taxing small traders, and added that he had even opposed VAT imposition by the previous government on textile traders. During a meeting with a delegation […]

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March 23, 2015
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Pre Budget Discussion By KHAGA

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 […]

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January 21, 2015
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Apparel and Textile News Apparel Brands and Companies Ministry of Textiles News

Pre-Budget Memorandum By KHAGA

President 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 […]

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January 10, 2015
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Apparel and Textile News

Uniform Tax Structure Proposed Under GST

The proposed Constitution Amendment Bill on Goods and Services Tax (GST), introduced by Finance Minister in Lok Sabha last month, is expected to smoothen business process for ecommerce companies by resolving several supply chain issues that plague the sector, according to experts. GST is a single tax regime, applicable across states, on the sale, manufacture […]

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January 6, 2015
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Tag: VAT

Neutral GST rates for most textile segments

AAP Govt. Budget Slashes VAT On RMG

Punjab Spinning Industry Protests Against VAT Rate

Reduction of VAT on Cotton Urged at TN

No VAT On Textile Traders In Telangana

Pre Budget Discussion By KHAGA

Pre-Budget Memorandum By KHAGA

Uniform Tax Structure Proposed Under GST