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Tex-Min to ask Fin-Min to review excise duty on garments
02 May '11
1 min read
The Textiles Ministry will ask the Finance Ministry to review the imposition of mandatory excise duty on branded clothing and made-ups, as the duty is detrimental to the interests of the textile and apparel industry.
The Clothing Manufacturers Association of India (CMAI) has been asked by the Textiles Ministry to make an assessment of the impact of the duty on the sector, after which the Finance Ministry will be approached.
It may be recalled that in the union budget announced in end-February, the Finance Ministry had imposed a 10 percent mandatory excise duty on branded clothing and made-ups.
No amount of pressure from the industry, made the Finance Ministry change its mind, except for making a few minor changes.
The Clothing Manufacturers Association of India (CMAI) has been asked by the Textiles Ministry to make an assessment of the impact of the duty on the sector, after which the Finance Ministry will be approached.
It may be recalled that in the union budget announced in end-February, the Finance Ministry had imposed a 10 percent mandatory excise duty on branded clothing and made-ups.
No amount of pressure from the industry, made the Finance Ministry change its mind, except for making a few minor changes.
Fibre2fashion News Desk - India
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