Surat textile sector leaders meet Indian FM over GST issues

11 Jun '18

1 min read

Representatives from the textile industry in Surat recently met Indian finance minister Piyush Goyal and finance secretary Hasmukh Adhia in Surat to discuss issues related to the goods and services tax (GST), including its simplification and refund of the input tax credit (ITC). The industry delegation was led by Navsari member of parliament CR Paatil.

More than a lakh power loom machines have been sold in scrap since November last year and weavers have been forced to reduce the production of man-made fabric (MMF) by operating their units in the single shift of eight hours, according to a report in a top Indian newspaper.

Though textile processors, yarn spinners and the embroidery units are allowed to claim ITC refund, the representatives feel the weaving industry is discriminated against by the central government.

Demands, including the ITC refund, simplification of ITC 04 form, intrastate e-way bill exemption, transporters filling wrong information under part-b of the GST and traders being penalized, have been put forward, according to textiles traders leader Sanjay Saraogi. (DS)

Fibre2Fashion News Desk – India

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