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Gujarat power loom weavers not to file GST returns: FOGWA

21
Sep '18
Gujarat power loom weavers not to file GST returns: FOGWA
The Federation of Gujarat Weavers Association (FOGWA) recently took a decision that power loom weaving units in the state will not file the central goods and services tax (GST) return as the Indian Government is still adamant on not allowing the refund of the accumulated input tax credit (ITC), which is affecting the weavers’ expansion plans.

According to the powerloom industry leaders, weavers have till date not passed on the credit accumulation to the buyers and has treated as the part of its asset. However, any attempt to deny to carry forward of the accumulated credit will amount to huge unbearable loss to the industry as the weavers will not be able to expand or modernise their units.

Despite no section under the GST law allowing blockage of ITC credit, the Indian Government and the GST Council have blocked ₹400 crore worth of accumulated ITC credit of the power loom sector from July 31, 2017 to July 31, 2018, FOGWA president Ashok Jirawala told a top Indian English-language daily.

If textile processors are getting ITC credit, power loom weavers are also eligible for the same, he added. (DS)

Fibre2Fashion News Desk – India


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