GST rate on PSY must be reduced from 12 to 5 per cent (to align with fabric which is already…
Browsing: Goods and Services Tax
Stalin cautioned that the tariff shock would not only hit textiles but also other labour-intensive industries such as apparel, leather,…
The CGST department has observed that several manufacturers have recorded processes involving significant alterations to fabric as mere ‘washing and…
Over the past eight years, the industry has experienced significant fluctuations. Ludhiana’s textile industry is currently facing numerous challenges and…
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 automatic and mostly China made rapier, writes B Basu.
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 Piyush Goyal has recommended for allowing refund of input tax credit (ITC) to fabrics. The refund of accumulated ITC shall be with prospective effect on purchases made after notification is issued.
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 a part of the mid-term review of India’s Foreign Trade Policy (FTP) 2015-2020.