Tag: Goods and Services Tax
NITMA seeks uniform 5% GST on polyester staple fibre and polyester spun yarn
GST rate on PSY must be reduced from 12 to 5 per cent (to align with fabric which is already taxed at 5 per cent), ... Read More
Stalin urges Centre’s intervention to shield Tamil Nadu textiles from US tariff hike
Stalin cautioned that the tariff shock would not only hit textiles but also other labour-intensive industries such as apparel, leather, automotive components, machinery, gems and ... Read More
Textile units face GST scrutiny over service misclassification
The CGST department has observed that several manufacturers have recorded processes involving significant alterations to fabric as mere ‘washing and dyeing’ to benefit from a ... Read More
Ludhiana’s textile sector urges government for FTAs
Over the past eight years, the industry has experienced significant fluctuations. Ludhiana's textile industry is currently facing numerous challenges and adjusting to a new phase ... Read More
Crisis in Bhiwandi powerloom sector
Bhiwandi has approximately 6.5 lakh power looms, which is 33 per cent of country’s total power looms. Out of 6.5 lakh, about 15-20,000 looms are ... Read More
GST Council allows ITC refund to fabrics
The Goods and Services Tax (GST) Council at its 28th meeting held under the chairmanship of Union minister for railways, coal, finance and corporate affairs ... Read More
Rs 8,450-cr sops for MSMEs
The Indian government has announced fresh incentives worth Rs 8,450 crore to boost exports and support the MSME and labour-intensive industries. The incentive came as ... Read More