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CCI opens two cotton depots in Tamil Nadu
03
Dec '10
Cotton Corporation of India (CCI) had opened Sales Depots for cotton in Coimbatore and Rajapalayam in the State of Tamil Nadu with effect from 8th February 2010.

The Government of Tamil Nadu has exempted levy of 4% VAT on cotton bales sold from such sales depots. The Scheme extends various benefits to the textile mills which include inter-alia availability of quality cotton at the door steps of the mills; saving in costs due to reduced need to maintain large inventories; savings in lead time, interest and carrying charges etc.

Opening of sales depots at Baddi (Himachal Pradesh) and Ludhiana (Punjab), has been approved, subject to the exemption of 4% VAT from the respective State Governments. This information was given by the Minister of State for Textiles, Smt. Panabaaka Lakshmi in a written reply in the Lok Sabha to a question raised by Shri P. Viswanathan.

The Minister further stated that the benefits under the Technology Upgradation Fund Scheme are available to the small and medium spinning mills in the country.

Press Information Bureau


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