Browsing: gst

M Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has welcomed GST era for the textile industry and highly appreciated the NDA Government especially the Union Textile Minister, Smriti Irani

The long-awaited GST rates have sparked off many a smile and a few wails in the textile industry! While the majority of textile industry, particularly the garment industry, has gone gung ho over the new rates of GST, synthetic textile segment has been crying hoarse, legitimately over the 18 per cent rate.

The textile trading community has decided to call for a major shutdown of business, to oppose the imposition of goods and services tax (GST) from July 1.

The Clothing Manufacturers Association of India (CMAI)—in association with Tata Consultancy Services (TCS)—has developed a software for garment manufacturers to alert them about GST (Goods and Services Tax) compliance.

The Indian Texpreneurs Federation (ITF) has hailed the revision of job work rates for textile, leather and gems and jewellery sectors to 5 per cent from 18 per cent announced earlier.

M Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has highly appreciated and thanked the concerted and constant efforts made by Union Textile Minister, Smriti Zubin Irani for fully understanding the needs of the industry and persuading the Finance Minister and Prime Minister to classify the entire cotton textile value chain under 5 per cent GST rate.

The All India Recycled Fibre & Yarn Manufacturers Association has requested the Union Finance Ministry to maintain the current excise duty cost advantage of recycled PSF vis-à-vis virgin PSF, while finalising the GST rates.