Home / Knowledge / News / Textiles / H'bad textile traders discuss alternatives to VAT
H'bad textile traders discuss alternatives to VAT
29
Dec '11
The textile traders of Hyderabad agitating against the Value Added Tax (VAT) have shown their readiness to step back if the government agrees to replace the existing tax regime with a new fixed rate.

Considering that in spite of strong opposition from the textile traders, the government has not eased its stand on VAT on textiles.

Textile traders from entire Hyderabad convened a meeting, where they decided to present various alternatives for VAT before the government.

Justifying why they cannot accept VAT levy at present, textile traders said that if VAT is made applicable in the State, they would suffer a loss of business, as this would raise the cost of textiles in Andhra Pradesh as compared to other parts of the country.

Also they noted that VAT payment is also not easy for them as 90 percent of the State's textile sector is unorganized, consisting of small traders, majority of whom, do not maintain proper books of accounts.

The accused the authorities for detaining vehicles loaded with textiles, which do not have tax identification number and also issuing notices to textile traders.

Traders said they are ready to accept a "fixed tax alternative" in place of a percentage based sales tax system like VAT. From the options discussed, the traders agreed on a tax scheme where the levy is not as high as VAT.

They said that it should be a one-time levy based on business turnover, which would even make it easy for the small traders lacking proper book-keeping system to pay their dues.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

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

Karan Arora
Karan Arora

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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