×
653
Fashion Jobs
COLUMBIA SPORTSWEAR COMPANY
Assistant Merchandising Manager
Permanent · BENGALURU
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Firozabad
Permanent · Firozabad
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Phagwara
Permanent · Phagwara
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Karnal
Permanent · Karnal
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Belagavi
Permanent · Belagavi
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Baddi
Permanent · Baddi
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Moradabad
Permanent · Moradabad
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Idukki
Permanent · Idukki Township
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Garhmukteshwar
Permanent · Garh Mukteshwar
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Ranikhet
Permanent · Ranikhet
TRIANGLE WEAVERS
Production Manager
Permanent · Cherthala
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kasauli
Permanent · Kasauli
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Calicut
Permanent · Kozhikode
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Balrampur
Permanent · Balrampur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Nahan
Permanent · Nahan
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kanchipuram
Permanent · Kanchipuram
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Rishikesh
Permanent · Rishikesh
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Chennai
Permanent · Chennai
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Bareilly
Permanent · Bareilly
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Nainital
Permanent · Nainital
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kanyakumari
Permanent · Kanyakumari
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Ghaziabad
Permanent · Ghaziabad
Published
Dec 17, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ministry of Textiles sides with industry against proposed GST hike

Published
Dec 17, 2021

The Ministry of Textiles has decided to approach the Goods and Services Tax secretariat to ask for a return to the previous GST rate of 5% for clothing and textiles instead of the proposed hike to 12%.

January 1, 2022 could see new GST rates for the textile and apparel sector


The ministry heard representations from numerous industry bodies and agreed with them that hiking the GST rate on certain categories of clothing and textiles to 12% could cause economic hardship for businesses and push up prices, which would in-turn cause problems for consumers. The ministry will, therefore, ask the GST Council to refrain from raising the rate in January 2022 as planned, CNBC-TV18 reported.

“The industry is of the view that textile fabric manufacturers or fabric weavers will see a significant rise in their working capital requirements due to the disparity, as raw material will be taxed at 5% and the finished product will be taxed at 12%,” said a source in the Ministry of Textiles’ report, ET Bureau reported. “So, they are seeking a restoration of the old rate of percent.”

The Ministry of Textiles, “feels that the industry needs relief,” officials told CNBC-TV18. “Any decision which adds to their troubles needs to be flagged. So, our communication to the GST secretariat is very clear- maintain status quo on rates and make any change only after a detailed discussion with the ministry and the industry stakeholders.”
 
Earlier in the week, Union Minister for Finance Nirmala Sitharaman assured textile industry players that she would address the rates for the sector at the next GST Council meeting. Trade bodies including the Retailers Association of India and the Federation of Hosiery Manufacturers Association of India among others have requested the government scrap the new rates. 

Copyright © 2022 FashionNetwork.com All rights reserved.