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TEXTILE GST RATE
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- 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...
- Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 35%The price hikes in petrol and diesel follow the increase in the duty on gold. The way these hikes are being implemented makes it clear that...
- 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...
- GST cut: Major plan on agenda for all food, textile itemsThe GST Council is scheduled to meet on September 3 and 4 to discuss reducing tax rates on various goods and services. Key proposals includ...
- GST Council decides to defer rate hike on textiles from 5% to 12%Indian industry and other various States have opposed the increase in the tax to 12% from 5% effective January 1, citing higher compliance ...
- Pricey unity of textile GST ratesReform should entail having a central rate for the vast majority of goods, a merit rate and a demerit rate. But this requires political wil...
- States demand GST rate hike on textiles be put on holdIn the pre-budget meeting chaired by Union Finance Minister Nirmala Sitharaman, states like Gujarat, West Bengal, Delhi, Rajasthan and Tami...
- GST hike from January 1: How hard will the changes hit textile & handloom industry?This tax increase will aid the Centre, which is experiencing a revenue shortage as a result of recent fuel duty cuts, by stabilising tax re...
- New GST rates on textile likely from JanuaryThe sector had opposed the increase citing higher compliance costs, especially for the unorganised sector and micro, small and medium enter...
- Withdraw plan to hike GST rate on textile, apparel items: Telangana Minister to Centre"The current decision to impose additional seven per cent GST on the handlooms would leave the sector crippled. Telangana produces world-cl...
- ‘Completely unjustifiable’ GST rate hike on apparel, textiles and footwear show the Govt has no easy choicesThe Government wanted to correct a tax anomaly, but in the process the apparel, textiles and footwear sectors believe the move would lead t...
- CBIC notifies rate changes for apparel, footwear and textiles from Jan 1, 2022GST Council in its meeting in September had decided to correct inverted duty structure on footwear and textiles, which it said will come in...
- Budget 2018: As imports flood the market, India's textile industry is getting hammeredRepresentatives of textile industry have come forward to register their "disappointment" with the government for ignoring the calls of an i...
- FM Arun Jaitley rules out lowering GST rate for textiles sectorUnder the Goods and Services Tax regime yarn and fibres made from silk, wool, cotton or other vegetable fibres attract 5 per cent tax.
- SIMA welcomes reduction of GST on textile job work from 18% to 5%He has said that under current tax structure, textile job works are exempted from service tax as such activities are manufacturing processi...
- Textile industry welcomes government's move to keep low GST rates for natural fibres below Rs 1000CITI chairman J Thulasidharan complimented the government for keeping the rates at low level so that textile sector, especially cotton base...
- GST rate at 12% will negatively impact textile sector: ICRAICRA points out that the most of the cotton based textile players in the value chain operate through the optional route, thereby resulting ...
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