Home / Knowledge / News / Textiles / Textile sector demands continuation of tax holidays
Textile sector demands continuation of tax holidays
14
Mar '11
In Bangladesh, textile, jute and yarn industries have demanded to continue tax holiday benefits till 2015. In addition to that, they requested to withdraw duty on capital machinery for export-oriented industry and tax reduction on cash subsidy.

In a pre-budget discussion with the National Board of Revenue (NBR), the manufacturers and exporters urged to continue tax holiday benefits after June 2011, so local industries can survive.

They claimed that the textile manufacturers have utilized the tax holiday benefits without any irregularities. Silk industry urged the NBR not to impose any duty on import of raw materials

Textile industry urged the government to increase cash subsidy from 5.0 percent to 15 percent while jute industry made a presentation to double cash subsidy. They also urged to reduce income tax on cash subsidies to make the sector competitive in the international market.

Textile industry showed displeasure over no direction from the government on deduction of income tax on cash subsidies for exporters. Exporters demanded tax benefit for 100 percent export-oriented textile units on import of capital machinery and spare parts. The grey and finished fabrics mills sector supported their demand.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Mohammad Hassan
Biax Fiberfilm

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sanjukta Dutta
Sanjukta's Studio

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Jay Ramrakhiani
Occasions Elegance Wear

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

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
March 2017

March 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