The Apparel Export Promotion Council (AEPC) said that the GST Council’s decision to correct inverted duty structure on textiles from January 1, 2022 will lessen the tax burden on manmade fibre (MMF) fabrics and garments.
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The Apparel Export Promotion Council (AEPC) said that the GST Council’s decision to correct inverted duty structure on textiles from January 1, 2022 will lessen the tax burden on manmade fibre (MMF) fabrics and garments.
In order to meet the demand of the non-cotton fashion industry, the textile millers in Bangladesh have demanded a withdrawal of value added tax (VAT) and import duty on all kinds of manmade fibres (MMF).
The pandemic has brought about major changes across the globe. This health crisis has affected all across, manufacturing and textiles included. Volatility has become a synonym for market. However, there is a bright side to every challenge.
In September 2020, Textile Secretary Ravi Capoor informed investors that the Government of India was planning to bring a “focussed product scheme†to incentivise production of synthetic fibre-based apparel and technical textiles.
Talks of bad times are spreading fast, sometime even on a global scale. No country is spared. But time and again global economy has come out of the blues, and some countries’ fortunes have even brightened up. Why not India’s, this time? One of the opportunities for the textile industry is the technical textiles.
Consumers are looking for cotton on the fibre labels for a number of reasons. For the majority (79%), cotton and cotton blends are their favorite fabric to wear, according to Monitor data.