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No imposition of duty on cotton yarn, demands Rajesh Sharma

27 Feb '07
1 min read

Rajesh Sharma, Assistant General Manager, Finance, Neva Garments, speaking to Fibre2fashion, gives his pre-budget comments on Union Budget 2007-2008.

He said that TUFS should be extended for more three years. Service Tax Rates should not be increased.

Decrease in corporate Tax by abolishing Surcharge. Increase in amount of deduction u/s 80C to 150000/-.

No imposition of duty on Cotton Yarn. Tax Relaxation for Retail industry.

When asked about over all impact of coming budget to textile industry, he informed that there will be boom in the industry by further extention of TUFS and boom in the Retail Industry. There is bright future ahead for the Garments Industry.

Fibre2fashion News Desk - India

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