>>
Home / Knowledge / News / Textiles / Declare products' price pre and post GST period: CAIT
Declare products' price pre and post GST period: CAIT
08
Nov '16
The Confederation of All India Traders (CAIT) has urged Union finance minister Arun Jaitley to bind manufacturers to declare price of their products for pre and post GST regime. The traders' body made this appeal after the GST Council recently agreed on four tax slabs with the lowest at 5, followed by 12, 18 and the highest of 28 per cent.

CAIT is of the opinion that in the past, whenever there was any reduction in the tax rate, the price of the respective commodity was never reduced by the manufacturers at large and the consumers were denied benefits. In order to avoid such an anomaly, CAIT has approached the finance minister.

“This step will see to it that the manufacturers declare prices of their products pre and post GST period. This will not allow them to make any adjustments and it will become easy to gauge whether the prices have been affected by inflation or not, post GST,” CAIT said in a statement.

CAIT national president BC Bhartia and secretary general Praveen Khandelwal said that four rates under GST have been carved out to curb prospects of any inflation. Trade and industry will get full input credit for the GST paid by them on purchase of any goods. Over and above, input credit will also be available on taxes paid on every expense incurred. Input credit is also available on goods purchased from other states. After enjoying such deep input, the prospects of inflation stands almost zero.

In current VAT regime, no input credit is allowed on expenses or goods purchased from other states. Since GST is a combination of both goods and services, input credit is also available for the taxes paid on obtaining any services related to business. All these benefits of input credit will certainly keep the manufacturing cost low and the consumer should be entitled to enjoy benefits, they said. (RR)

Fibre2Fashion.com – India


Must ReadView All

Pic: Dreamstime.com

Textiles | On 22nd May 2022

China raises support for economic growth by cutting lending rate

China recently cut the market-based benchmark lending rate to shore...

Pic Andrey Sirant | Dreamstime.com

Textiles | On 22nd May 2022

CPTPP helps boost Vietnam-Australia trade, investment cooperation

The Comprehensive and Progressive Agreement for Trans-Pacific...

Pic. Shutterstock

E-commerce | On 22nd May 2022

Strong momentum in China's cross-border e-com, rises 18.6% YoY in 2021

China's cross-border e-commerce has rapidly grown in the last few...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Juan Pares Boj,

Juan Pares Boj

Textil Santanderina is a cutting-edge textile company located in...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Atul Ganatra,

Atul Ganatra

<div>Engaged in providing a wide range of services to the entire cotton...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

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

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Rocky Star, Label - Rocky Star

Rocky Star
Label - Rocky Star

<b>Rocky Star,</b> an Indian designer known for his inspiration from the...

Teodora Mitrovska, Label - T*MITROVSKA

Teodora Mitrovska
Label - T*MITROVSKA

T*MITROVSKA is a highly conceptual London-based brand playing with...

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

ESTEEMED CLIENTS

Shima Seiki Mfg. Ltd.
Sainsbury's Argos Asia Limited
Zydex Industries
T.T. Limited
Applied DNA Sciences Inc
Eastman Chemical Company
THE BOMBAY DYEING ;& MFG.CO. LTD
Equinox Impex India
DuPont de Nemours, Inc.,
Colours India Inc
Asos
Target Corporation (MN)
Taiwan Textile Federation (TTF)
Gatsby Africa
Benetton Group
Officina Meccanica Dora Enrico Srl
MAS Active / MAS Kreeda / MAS Bodyline
Gap International Sourcing Limited
Brückner Trockentechnik GmbH & Co. KG
Haelixa AG
Tradewind International Servicing
OVS Hong Kong Sourcing Ltd.
Helly Hansen Far East Ltd
Lisa S.P.A.
BRINKMANN GMBH
Indofil Industries Limited - Specialty & Performance Chemicals Division
Jindal Worldwide Limited
Etam Group Strategy Hong Kong Limited
IKEA of Sweden AB
USTER
The LYCRA Company Singapore  Pte. Ltd
APLF Limited
BTC Textiles LLC
Boardriders Asia Sourcing Limited
CSGIA(China Screen Printing & Graphic Imaging Association)
Nihalani Events Management
NITI Aayog
PVH Corporation
Inter Expo Center Ltd.
Seasalt Limited
John Varvatos
Nandan Denim Limited
Sateri (Jiujiang) Fiber Co.,Ltd
Calvin Klein
Vianney Textil Hogar S.A. De C.V.
The LYCRA Company Singapore  Pte. Ltd
Alison Hayes Romania
FESPA (Reigate)
Aramark Uniform ;& Career Apparel, LLC
DyStar India Pvt. Ltd
Jiangsu Yingyang Nonwoven Machinery Company Limited
Hela Clothing Pvt Ltd
Aquarelle Clothing Limited
Chico’ FAS
Gokaldas Exports Limited
TESCO INTERNATIONAL SOURCING LIMITED
Bluestem Global Sourcing Limited
Tory Burch Hong Kong Ltd
BTSR International S.P.A.
Esprit Europe Services GmbH
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Messe Duesseldorf
Newtech Textile Technology Development (Shanghai) Company Limited
Chori Company Limited
TEXVALLEY MARKET LIMITED
Pt. Peraga Nusantara Jaya Sakti
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Recron Polyester from Reliance Industries Limited
Desigual - ABASIC, S.A.
Messe Frankfurt Exhibition GmbH
Meera Dyestuff Industries
G-Star Raw C.V.
Istanbul Fuarcilik A.S.
Kern – Liebers Textile
Green Fibre
Permoda(Koaj/Armi/Pronto/Bkul)
VNU Exhibitions Asia
Marzoli Machines Textile s.r.l.
Tommy Hilfiger
Splash
Dow Silicones Corporation
Coats Digital Limited
IIGM Private Limited
Saurer Textile Solutions Pvt. Ltd.
Infor (Hong Kong) Limited
JES MEDIA, INC
Arvind Limited
Centric Software
Rayonese Textile Inc., Division de Culp Inc.
Lottmann Communications
KIABI
TESTEX AG, Swiss Textile Testing Institute
Xtema - Thomas Lebherz Textilmaschinen
Sportmaster Ltd.
The Top Form Brassiere Manufacturing Company Limited
Recron Polyester from Reliance Industries Limited
Guess Europe Sagl,
IFF Media Ag - International Media Services
IDH – The Sustainable Trade Initiative
C;&A Sourcing International Ltd
Color Service s.r.l.
Varner AS Retail
Vardhman Textile Ltd
SHAHI Exports Pvt Ltd
Zünd Systemtechnik AG
KAS Direct Sourcing
Amazon China
Aleph Srl
Cat Tuong Real Estate Group Joint Stock Company
Groz-Beckert East Asia LLP
Sportswear Company Spa
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Performance Days
Rosset ;& Cia Limited
Babyshop
Palexpo SA
Gloria Jeans
TÜYAP IHTISAS FUARLARI A.S.
EMBEE CORPORATION
Lectra Technologies India Pvt Ltd.
Thai Trade Center
GERBER TECHNOLOGY LTD.
Midas Clothing Limited
Kornit Digital Asia Pacific Ltd
COTTON COUNCIL INTERNATIONAL
Mesdan SPA
BIMBA ;& LOLA SL
Huntsman (Singapore) Pte Ltd
Weitmann & Konrad GmbH & Co. KG
Abit
Lacoste (Wanchai)
Italian Trade Commission
J ;& P Coats
FULGAR SpA
G.A.S. unternehmenskommunikation gmbh
Phong Phu international JSC (PPJ)
ITMA Services Pte Ltd
Mayer & Cie. GmbH & Co. KG
Truetzschler India Private Limited
Savio Macchine Tessili S.P.A.
Lenzing Aktiengesellschaft - India
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Lenzing Aktiengesellschaft
Groz-Beckert KG
Lululemon Athletica Inc
International Sourcing Expo Australia
Rieter India Private Limited
Under Armour Global Sourcing Ltd
H. Stoll AG & Company KG
Bluesign Technologies Ag
Decathlon
Thermore (Far East) Ltd.
K AND D ITMACH EXPOSITIONS LLP
EPCH
CGS Inc.
Stahl Holdings B.V.,
N9 World Technologies Private Limited
NV Michel Van de Wiele
H;&M Hennes ;& Mauritz (Far East) Ltd
Copenhagen Fashion Summit
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Walmart
Datacolor AG Europe
Brandix Lanka Limited
UBM China (Shanghai)
Loris Bellini S.r.l.
Eurofins BLC Leather Technology Centre Ltd
GIOVANNI BOZZETTO S.p.A.
Restoque S.A.
EUROVET ASIA LTD
Thai Acrylic Fibre Company Limited
Hirdaramani International Export Private Limited
Woolmark Services India Pvt. Ltd.
Itema Weaving (India) Private Limited
Reiter India Private Limited
Indo Tex
Tchibo GmbH
Flainox S.r.l.
Comasia Limited
LC Waikiki
BIANCA
International Textile Manufacturers Federation
Maceton Limited
Karl Mayer Textilmaschinenfabrik GmbH
SYNERGIES HONG KONG LIMITED
Landmark Group
ZAITEX spa
GHCL LIMITED
Tuyap Tum Fuarcilik Yapim A.S.
X-Rite Asia Pacific Limited (HK)
Alix Partners
Shanghai  Aige Exhibition Service Co., Ltd
China World International Exhibition Company Limited
Puma
Lifestyle
Grasim Industries Limited
Datatex Consulting Srl
Page Industries Limited (Bangalore)

May 2022

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


Advanced Search