ITF hails revision of job work rates for textile sector

By

Maverick Martins

Published
Jun 12, 2017

​Indian Texpreneurs Federation (ITF) welcomed the revision of job work rates for textile, leather, and the gems and jewellery sectors, taking them to five per cent from 18 per cent announced earlier.

In a statement, ITF secratary, Prabhu Dhamodharan said that for the past one week, all associations from here were requesting and representing for this reduction, which was done in the recent GST Council meeting.

Thanking Finance Minister, Arun Jaitley and Textiles minister, Smrithi Irani and Council for the reduction, he said that this will help SME clusters like Coimbatore, Tirupur, Erode and Karur to be inside the tax net and contribute to the nation by way of taxes at the same time without any big burden on tax outgo.

"This revision shows the willingness of government to listen to the concerns of the manufacturing sector," Prabhu said.