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GST ON GARMENTS
India's economy resilient amid external shocks, says SitharamanIndia's economy shows resilience and strong domestic demand. Finance Minister Nirmala Sitharaman highlighted that external factors are caus...- GST rationalisation in textiles to remove distortions, support exportsThe government's GST rate rationalisation for the textile sector aims to boost the industry towards a $350 billion target by 2030. Key chan...
- RAI suggests moving to flat GST rate across product categories instead of price-based thresholdsRetailers Association of India suggests a uniform Goods and Services Tax rate. Current price-based system creates market distortions. RAI e...
- GST rate hike to cripple India's garment industry: Clothing Manufacturers Association of IndiaThe government plans to increase taxes on garments costing over Rs 2,500. Clothing Manufacturers Association of India (CMAI) warns this wil...
- CITI warns of job losses, economic impact from proposed GST hike on garmentsProposed GST increases on garments worry the textile industry. The Confederation of Indian Textile Industry warns of job losses and economi...
- Delhi govt supports traders' protest against GST hike: SisodiaDelhi government supports protest of traders against increase in goods and services tax on textile, and will raise the issue in GST council...
- Officials push for hike in GST leviesOn Friday, several state finance ministers had blocked a move to increase GST on garments and footwear as part of the proposal to correct t...
- Textile imports increase as duty cut bites after GSTPre-GST, import of textile products attracted basic customs duty (BCD) plus countervailing duty (CVD) and special additional duty (SAD).
- Garment exporters expect 15% dip in shipments this yearExporters expect 6 million jobs to get lost in the coming months if the situation continues. Textile is the largest employer after agricult...
- Govt announces measures to boost garment exportsThe government has also doubled the rates for incentives under an export promotion scheme -- MEIS -- to 4 per cent for readymade garments a...
- Govt doles out higher incentives for garments, made-up exportsUnder the scheme, exporters are given duty exemption scrips which are fixed at a certain percentage of the total value of their exports.
- India's exports expected to grow 15-18%: Rahul Mehta, President, CMAIThere is an increasing export potential to South America and European markets feels Rahul Mehta, President, CMAI
- India's garment exports may hit $20 billion in FY18"The US market, which consists of 30% market share is doing reasonably well and we are also looking at good exports potential to South Amer...
- 18% tax to raise prices of garments, made-ups: Textile industryGiving reasons for lowering the tax rates, Finance Minister Arun Jaitley had said the objective was to maintain equivalence to the existing...
- GST a mixed weave for textile unitsExperts say cos that sell garments below Rs 1,000 will see cost savings of 2-3 per cent while those selling above that may report a 2-3 per...
- 6 stocks that can gain immediately under GST regimeAnnouncement of GST rates for specific categories has reduced regulatory uncertainty.
- CMAI seeks withdrawal of excise duty on readymade garmentsFinance Minister Arun Jaitley had proposed 2 per cent excise duty on branded readymade garments and made-up articles of textiles of retail ...
- Budget 2016: Prices of branded garments to go up by 2-5 per centIndustry also said that price rise would hit customers who mostly purchase garments between price range of Rs 1,000 to Rs 2,500.
- 'Textiles exports may remain flat at $40 billion in FY16'The country's overall exports of textiles and clothing may stand at $40 billion in 2015-16, similar to last year's level, a senior official...
- Kitex Garments another Page Inds in making, can be a multibagger in 5 years: Vikas Sethi, FinmartSethi also likes Greenply Industries. He believes that clean balance sheet, jump in housing demand and high return ratios, would aid Greenp...
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