Home / Knowledge / News / Leather sector urges Govt to ignore VAT

Leather sector urges Govt to ignore VAT

27
May '10
The Pakistan Tanners Association (PTA) and the Lahore Hide Market Association has appealed the government, to keep leather sector away from the influence of Value Added Tax (VAT), after reviewing its impact on leather at various stages of industrial supply chain.

In this regard, Shaikh Muhammad Naim, Chairman, PTA Northern Zone said that, the value-addition chain of leather, breaks at certain levels hence, the effect of VAT cannot be transferred to the subsequent consumer.

Imposition of 15 percent tax at each level of value-addition, would of course amplify the working capital requirements, which would threaten the businesses of small and medium exporters.

This would subsequently increase the business cost by 70 percent, resulting into destruction of the leather industry, said Naim, according to whom, VAT would take its toll on the competitiveness of leather exports.

Both the associations have urged the government to stop seeking financial assistance from IMF and the World Bank, and prop up country's export-oriented sectors.

Fibre2Fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Feb 2020

US surpasses China as India's biggest trading partner

The United States has surpassed China to become India's top trading...

Pic: Shutterstock

Textiles | On 25th Feb 2020

Coronavirus may shift buyers to Turkey, fuel cotton growth

The coronavirus outbreak will cause a possible shrinking of China's...

Pic: Shutterstock

Apparel/Garments | On 25th Feb 2020

Tough for Vietnamese firms to follow EVFTA rules of origin

Though Vietnamese textile and garment firms are aware of the...

Interviews View All

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Mandeep Nagi, Shades of India

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

Leave your Comments


February 2020

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


Advanced Search