Home / Knowledge / News / Apparel/Garments / Remove duty on garments: Knitwear Club to Indian govt
Remove duty on garments: Knitwear Club to Indian govt
07
Feb '12
In its pre-budget recommendations submitted to the Ministry of Finance (MoF), the Ludhiana-based Knitwear Club has urged the Indian Government to rollback the excise duty imposed on readymade branded garments through Budget 2011-12.

Speaking to fibre2fashion, Mr. Vinod K Thapar, President of Knitwear Club, said, “The excise duty on garments is 10 percent, which is very high. Also, every month we have to deposit that amount in advance which turns out to be a big amount, while our payment realization begins after 60 days. So, our major investment gets blocked in the form of excise duty.”

“We have demanded that the excise duty should not be there at all,” he avers. After a pause, he adds, “Ludhiana's knitwear industry has been badly affected by this duty and it is now fighting for survival. At this juncture, growth looks like a distant dream and our industry will get destroyed if the excise duty is continued.”

Giving his opinion about the chances of rollback of excise duty, the Knitwear Club President says, “We have presented our memoranda to the MoF. We have forwarded the application through our local MP Mr. Manish Tiwari, who has taken up the matter with the MoF. We are hopeful that the excise duty would be removed from 1st April 2012. Even if the Government does not completely rollback the duty, it might, at least, reduce it to one percent.”

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search