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Industries in Coimbatore and Tirupur pay homage to former Chief Minister M. Karunanidhi.

Indian government has hiked import duty on 328 textile products. The duty on these products have increased from 10% to 20%. This move is very positive for domestic manufacturers. This decision will bring relief to domestic manufacturers, promote make in India and boost job creation.

Coimbatore: Though the union government’s decision to double import duty on 328 textile products has brought relief to the textile industry, the move would not impact shipments from Bangladesh, the primary source for the increase in garment imports into the country, industry officials said.

A little over a year after the Goods and Services Tax (GST) rollout, the revenue collections from the new indirect regime are at the centre of a debate. A member of the GST Council estimates a “shortfall” in the April-June quarter of this year at ₹43,000 crore.

Companies that are required to submit cost audit reports to the government will now have to provide details related to the goods and services tax (GST) after the Ministry of Corporate Affairs released a draft of amendment to the relevant rules.

The government announced a 20% hike in import duties on about 328 textile goods on Tuesday. Knotted carpets, men’s and boy’s jackets, trousers, ensembles of silk, artificial fibre, garments for babies, women’s lingerie, bathrobes, men’s underwear are bound to experience cost hikes. Minister of State for Finance Pon Radhakrishnan sent a notification in the Lok Sabha.

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