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The Union Cabinet on Thursday approved setting up of the proposed National Anti-profiteering Authority (NAA) under the goods and services tax (GST) to ensure consumers get the benefit of lower taxes under the new indirect tax regime. The decision came a day after the reduction in the GST rate on over 200 items came into force. 

Fushun Cambo Fashion Company Limited will invest $2.45 million to set up a garment manufacturing factory in Bante Kol village, in southwestern Bati district of Takeo province in Cambodia. The project, which on commencement will employ more than 1,000 people, has received green signal from the Council for the Development of Cambodia (CDC).

The retail market in India is projected to reach $1.1 trillion by 2020 from the current level of $680 billion, according to a joint study by MRSSIndia.com and the Associated Chambers of Commerce and Industry of India (ASSOCHAM), which foresees the fast moving consumer goods (FMCG) market reaching $103.7 billion by 2020 from $ 49 billion now. 

About 85 per cent of all required factory repairs have been completed and 162 non-compliant factories have been suspended, the Alliance for Bangladesh Worker Safety, a platform of North American retailers that sets time frames and accountability for safety inspections, training and workers’ empowerment, said in its fourth annual report released today. 

A day after the Centre notified the latest set of cuts in the rate of tax to be levied on a wide range of goods as part of the Goods and Services Tax (GST), the Union Cabinet on Thursday approved the creation of the National Anti-profiteering Authority to ensure that businesses pass on the benefits of GST to consumers.

Sri Lanka’s Joint Apparel Association Forum (JAAF) hopes for a robust export-oriented textile industry after expressing satisfaction over the measures adopted following the 2018 budget. The customs ordinance, the new exchange management law and the modified inland revenue laws were some of the regulatory changes that the apparel industry looked forward to.