In each state, the value added tax varies for textile items. The duties are also different for MMF and cotton products, said Prabhu Damodaran, secretary of ITF in a memorandum to the Tamil Nadu government. The textile industry has also urged the Central government to cover all segments ranging from fibre to garments under GST to avoid tax evasion.
The GST bill is slated to be rolled out in less than 2 months, however, a majority of the businesses are yet not ready for it. According to a survey conducted by EasemyGST portal by Ginesys, close to 68 per cent of the businesses are not ready for the regime. About 18 per cent of the businesses surveyed have a basic understanding of GST, while merely 14 per cent are working towards adopting it. (KD
Fibre2Fashion News Desk – India