Home / Knowledge / News / Leather sector urges Govt to ignore VAT
Leather sector urges Govt to ignore VAT
27
May '10
The Pakistan Tanners Association (PTA) and the Lahore Hide Market Association has appealed the government, to keep leather sector away from the influence of Value Added Tax (VAT), after reviewing its impact on leather at various stages of industrial supply chain.

In this regard, Shaikh Muhammad Naim, Chairman, PTA Northern Zone said that, the value-addition chain of leather, breaks at certain levels hence, the effect of VAT cannot be transferred to the subsequent consumer.

Imposition of 15 percent tax at each level of value-addition, would of course amplify the working capital requirements, which would threaten the businesses of small and medium exporters.

This would subsequently increase the business cost by 70 percent, resulting into destruction of the leather industry, said Naim, according to whom, VAT would take its toll on the competitiveness of leather exports.

Both the associations have urged the government to stop seeking financial assistance from IMF and the World Bank, and prop up country's export-oriented sectors.

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Mark Paterson
Technical Absorbents Ltd

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

news category


Related Categories:
July 2017

July 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