Home / Knowledge / News / Textiles / Telangana textile traders seek GST exemption
Telangana textile traders seek GST exemption
03
Jul '17
Textile traders of Telangana have urged the Central government to exempt them from the purview of Goods and Services Tax (GST), which has been implemented pan-India from July 1. Around 80 per cent of traders are from the unorganised sector and earn modest living from the trade, and the levy of GST would affect them as sales will decrease.

Under the GST, 5 per cent tax is levied on readymade garments priced under Rs 1,000 and 12 per cent on those priced over Rs 1,000. This would result in around 10 per cent increase in the final price paid by the consumer, according to Telangana State Federation of Textiles’ Association (TSFTA).

“The textile trade is a credit-oriented business. Especially in the wholesale trade, the payment is received only six months after the sale of goods. Under the new GST, the trader is expected to pay tax immediately after the sale. This will result in tremendous pressure on the trader in the form of liquidity,” TSFTA  president Prakash Ammanabolu, said while speaking to reporters in Hyderabad.

Raising TSFTA’s grievances with Union labour minister Bandaru Dattatreya, who was in the city, Ammanabolu said that the textile trade is carried out even in remote villages. Traders in these areas choose textile or garment business as it is a free trade and it does not require any particular skill. “The rural traders earn a small amount and their families depend on the business,” he said and requested the minister to represent their cause to Union finance minister Arun Jaitley and urge him to roll back the GST on small traders and retailers. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Mikes Photos from Pexels

Apparel/Garments | On 17th Oct 2018

Bangladesh garment exports swell 14.66% in Q1 FY19

Readymade garment exports from Bangladesh increased by 14.66 per cent ...

Courtesy: WTO

Textiles | On 17th Oct 2018

WTO rejects Panama claim for $210-mn sanctions on Columbia

A World Trade Organisation (WTO) panel recently rejected Panama’s...

India ranks 147th in Oxfam world inequality index

Textiles | On 17th Oct 2018

India ranks 147th in Oxfam world inequality index

India has been ranked 147th among 157 countries in a new worldwide...

Interviews View All

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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


October 2018

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

news category


Related Categories:

Advanced Search