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Textile traders likely to go on strike against GST
26
Jun '17
Textile traders across the country may go on strike beginning from Tuesday for three days, opposing the implementation of GST on textiles. A rally is also likely to be carried out on June 30, 2017. Lakhs of organised and unorganised traders associated with the textiles will be affected badly with the implementation of GST, according to textile associations.

It is anticipated that textile traders in Gujarat, Delhi, Maharashtra, Punjab, West Bengal, Rajasthan, Tamil Nadu and other parts of the country will go on strike from Tuesday. Around 35,000 textile shops in Telangana are expected to remain close while nearly 70,000 textile establishments in Surat have been shut since June 24, 2017, according to media reports.

Cloth merchants and powerloom weavers and workers are also expected to join the strike. In an attempt to save the powerloom sector, a request has been made by the Tamil Nadu Powerloom Federation for exemption from GST.

Further, a representation has been made by the Federation of Gujarat Weavers Welfare Association (FOGWWA) for various issues including implementation of fibre policy for all fibre kinds, refund of accumulated GST credit and lowering GST on yarn to either 5 or 12 per cent among others.

"The GST Council had promised that it is not going to tax textiles. But contrary to their promise, they have imposed a 5 per cent tax on the commodity. This will result in closure of scores of shops," according to Telangana State Federation of Textile Associations. "The textile trade is quite different from some other businesses. Payments come very late, say after six months, after dealers or stockists supply it to retailers. But we are expected to pay the tax immediately. This will result in tremendous amount of pressure on the trader for working capital," he said. (RR)

Fibre2Fashion News Desk – India


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