×
163
Fashion Jobs
L'OREAL GROUP
Executive - Sales - Matrix - Cochin
Permanent · Kochi
SUBIR SINHA
General Manager Production Manager
Permanent · Kanpur
RIVAARA LABS
we Are Area Sales Manager Like You to Join Our Sales Team
Permanent · Nashik
CAPITAL PLACEMENT SERVICES
sr.Manager Production Grinding Machines For Vadodara Gujarat
Permanent · Vadodara
L'OREAL GROUP
Area Sales Manager - South Bengal
Permanent · Kolkata
FUTURES AND CAREERS
Job Requirement For "Assistant Production Manager"
Permanent · Renigunta
KEWAL KIRAN CLOTHING LTD
Area Sales Manager (Channel Sales) Rajasthan, Jaipur
Permanent · Jaipur
FEDBANK FINANCIAL SERVICES LTD
Area Sales Manager- Doorstep Gold Loan(Chennai)
Permanent · Chennai
HERO HOUSING FINANCE LIMITED
Area Sales Manager
Permanent · Thane
PROJOBS
Manager Accounts - Garment Manufacturing (Cma)
Permanent · Coimbatore
HECTOR AND STREAK CONSULTING PVT LTD
Production Manager- Diagnostic Portfolio
Permanent · Mumbai
ELITE DECOR PVT LTD
Production Manager & Production Supervisor
Permanent · Vadodara
L'OREAL GROUP
Sales Executive - Professional Division - Bhopal
Permanent · Bhopal
L'OREAL GROUP
Executive - Sales Cpd - Bhatinda (n)
Permanent · Bathinda
L'OREAL GROUP
Sales Executive - Cpd - Bhatinda
Permanent · Bathinda
L'OREAL GROUP
Area Sales Manager, Cpd - Chandigarh
Permanent · Chandigarh
HEALTHKART
Area Sales Manager- Healthkart - Lucknow, Agra, Gwalior
Permanent · Lucknow
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Lighting Retail Sales (Rajkot)
Permanent · Rajkot
ELECTRONICA FINANCE LTD
Area Sales Manager - Bangalore Machinery Loan
Permanent · Bengaluru
NANDANI CREATION LTD
Production Manager
Permanent · Jaipur
ELECTRONICA FINANCE LTD
Area Sales Manager - Kolhapur Machinery Loan
Permanent · Kolhapur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Ranchi
By
Fibre2Fashion
Published
Jan 28, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

SIMA makes pre-budget recommendations to CAIT

By
Fibre2Fashion
Published
Jan 28, 2019

Removal of import duty on man-made fibres (MMF) and reduction of goods and services tax (GST) on it from 18 per cent to 12 per cent and fixing of corporate tax rate for large companies at 30 per cent including surcharge and cesses are part of the pre-budget suggestions made by the Southern India Mills Association (SIMA) to the Confederation of Indian Textile Industry (CITI).



Large companies are defined as the ones with a turnover of more than ₹50 crore. Though the tax rate for such units is only 30 per cent now, the surcharge and cesses add up to 34.94 per cent.
The Central Board of Indirect Taxes and Customs (CBIC) had allowed refund of accumulated credit on account of inverted duty structure to fabric manufacturers. However the input tax credit (ITC) accumulated on account of GST paid on capital goods and input services are not be eligible for refund.

SIMA feels all services attract 18 per cent GST and denying the refund of GST on such services makes the provision unrealistic and does not seem to serve the purpose. Hence, it has suggested allowing refund of accumulated GST in services.

Before the GST regime, exporters were allowed to utilise the Merchandise Exports from India Scheme (MEIS) scrip for the payment of all taxes like –excise duty, service tax, value-added tax and basic customs duty. However, with the introduction of the GST, the government has permitted the use of such scrip for the payment of basic customs duty only. This has resulted in minimal usage of the duty scrips.

So SIMA wants the government to consider allowing the usage of the MEIS scrips for payment of integrated GST and continue the same till other export benefits are phased out as per pact with the World Trade Organisation.

The association also suggested provision of adequate funds to clear the long pending Technology Upgradation Funds Scheme (TUFS) subsidies of committed liabilities of over 9,000 cases as per the recommendations made by the office of the textile commissioner.

Copyright © 2021 Fibre2Fashion. All rights reserved.