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Amritsar trade body demands rebate for textile sector in GST
10
Nov '16
Punjab Pradesh Beopar Mandal (PPBM), an Amritsar based trade association has sought rebates for the textile industry in the GST regime. The PPBM has also requested that single window services should be provided for various tax departments like central, state and international Goods and Service Tax to avoid hassles of dealing with multiple departments.

“Pl Seth, president of PPBM has sought rebate in the proposed GST, by saying that the textile industry is the second highest employment-generating sector after agriculture,” a leading daily reported.

Seth also demanded raising the excise exemption limit for textile industry, which has remained stagnant at Rs 1.50 crore, since the last eight years. He also said that the capital investment limit of MSME's which stands at Rs 5 crore since 2006, needs to be raised to Rs 10 crore, while also reducing import duties.

Seth reasoned that these initiatives would offer advantages to the textile industry, which under global competition and an unfavourable tax regime, were throttling the industry. (AR)

Fibre2Fashion News Desk – India


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