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Textile processors hail decision to lower GST on job work
16 Jun '17
1 min read
The decision of the Goods and Services Tax (GST) Council to lower the tax rate on job works to 5 per cent from 18 per cent has been welcomed by the textile processors' association. The reduced GST on textile job work will be beneficial to the textile trading community as well as the entire textile value chain, according to the processors.
The finished fabrics are not likely to be much costlier that the current prices after the 5 per cent GST is levied.
CR Paatil, MP Navsari, was felicitated by the South Gujarat Textile Processors' Association (SGTPA) for his contribution towards pursuing the processors' demand of getting the job work GST rates reduced.
SGTPA office-bearers went to Delhi to meet finance minister Arun Jaitley along with Paatil, who ensured that the GST rate on job work is reduced. This will be beneficial for the entire textile value chain, Jitu Vakharia, SGTPA president told a leading daily.
Textile processors carry out job work process of close to 3 crore metres of unfinished fabric, which is supplied to them by textile traders, on a daily basis. (KD)
Fibre2Fashion News Desk – India
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