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‘Exporters cutting back on orders because of funds crunch; delay in refund of levies hurting industry’

Two top Uttar Pradesh (UP) government officials visited Tamil Nadu’s Tiruppur ahead of the UP Investors Summit on February 21-22 to invite knitwear factory owners to invest in a textile cluster planned in their state. They visited several garment manufacturing units and had a discussion with members of South Indian Hosieries Manufacturers Association (SIHMA). 

Federal indirect tax body Goods and Services Tax (GST) Council is set to revamp the return filing process and further liberalize rules to make compliance easier for taxpayers and boost government revenues.

Implementation of the Goods and Services Tax (GST) has had a positive impact on the logistics of businesses, while glitches in the GSTN portal, cumbersome procedures and cost of compliance remain major areas of concern, industry body Ficci said on Sunday, citing its survey in this regard.

The State government will announce a new textile policy at the Magnetic Maharashtra summit that begins on Sunday. Chief Minister Devendra Fadnavis said the policy will be for the 2018-2023 period, and will cover the spinning, weaving, processing, garmenting, knitting and ginning industries, among others. The announcement is expected to be made at the event by Prime Minister Narendra Modi.

Consumers have been left in distress as a result of retailers charging Goods and Services Tax (GST) over and above the maximum retail price (MRP) of a commodity.