Home / Knowledge / News / Textiles / Karnataka simplifies VAT policy on cotton
Karnataka simplifies VAT policy on cotton
11
Jan '12
Responding to the demand of cotton growers and traders in the State, the Government of Karnataka has simplified its policy of levying value added tax (VAT) on purchase and sale of cotton.

Under the revised procedure, the government will collect a fixed VAT of 2 percent on purchase and sale of cotton.

So far, VAT was collected at five percent and three percent was later reimbursed to cotton farmers and traders.

The earlier procedure created a lot of problems and hence it has now been decided to collect two percent VAT and do away with the practice of reimbursing three percent, Lakshman S Savadi, Minister for Cooperation and Agriculture Marketing, said.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eric Scholler
Groz-Beckert

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

Lynda Kelly
Suominen Corporation

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
January 2017

January 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