Home / Knowledge / News / Apparel/Garments / IIA urges Indian govt to rollback excise on garments
IIA urges Indian govt to rollback excise on garments
27
Feb '12
Indian Industries Association (IIA), an apex representative body of Micro, Small & Medium Enterprises (MSMEs) with a strong membership base of more than 4500 micro, small and medium scale units, has urged the Government to rollback the excise duty on garments to protect the Indian apparel industry.

In its pre-Budget recommendations, IIA has suggested raising of exemption limit of central excise duty from the present Rs. 15 million to at least Rs. 20 million. It has also sought an upward revision of the figure in para 2(vii) from Rs. 30 million to Rs. 50 million.

The Association has suggested the Government to restore the fiscal stimulus by reducing general rate of excise duty to 8 percent.

In addition, the IIA has said that all the exempted 120 commodity groups that have been brought under the excise net should be subjected to one percent rate of duty, along with all the benefits of CENVAT credit to the manufacturers as well as the buyers, to ensure there is no cascading effect, even if the duty is as little as one percent.

The association pointed out that the Central Government has imposed excise duty of 10 percent on branded garments in Budget 2011, and then from September, it has allowed garment imports from Bangladesh at zero-duty. This, the IIA said, has made garments imported from Bangladesh cheaper by up to 15 percent compared to garments manufactured in the country, which is adversely affecting India's garment industry.

Hence, the Government must rollback the excise duty on garments to protect the domestic garment industry, it said.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search