Dollar has been hardening, making Indian textile and clothing exporters happy. With negligible import content for the domestic industry, and the Government’s bid to curb cheaper import, good times are ahead, reveals the ITJ Cover Story.
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The man-made fibres (MMF) and yarns were slotted under 18 per cent GST rate while the fabrics were slotted under 5 per cent GST slab with a condition that no refund of Input Tax Credit would be allowed at fabric stage.
With textile traders keeping their shops shut following the all India strike announced by traders, the production of grey fabrics has taken a hit in the country?s largest man-made fabric (MMF) sector in Surat.
With textile traders keeping their shops shut following the all India strike announced by traders, the production of grey fabrics has taken a hit in the country?s largest man-made fabric (MMF) sector in Surat.
Textile traders in the country’s largest man-made fabric (MMF) wholesale market in Surat are upbeat following the decision of the Central Board of Excise and Customs (CBEC) to keep saree out of the ambit of made-ups.
The Government hinted at lowering excise duty on man-made fibre (MMF) in the new Textile Policy in order to boost investment to meet growing demand from the synthetic textiles industry.
The Government hinted at lowering excise duty on man-made fibre (MMF) in the new Textile Policy in order to boost investment to meet growing demand from the synthetic textiles industry.