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India mulls extending RoSCTL to other textile products
July 2019
India is mulling over extending the Rebate of State and Central Taxes and Levies (RoSCTL) for the garments and made-ups sector to other textile products because of the urgency to do away with the merchandise export incentive scheme (MEIS).
MSP on kharif cotton of 2019-20 season hiked
July 2019
Giving a major boost to the farmers’ income, the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSPs) for all kharif crops, including cotton, for 2019-20 season.
Mills seek re-look at duty drawback rates
September 2017
Indian textiles and clothing exports has been struggling during the last three years due to the absence of level playing field in the global market mainly because of high tariff rates in major markets and also non-refund of several taxes and levies.
GST council reduces tax rates on textile
August 2017
The GST council has reduced the tax rate on job work on all textile-related items to five per cent from 18 per cent to ensure that the labour-intensive sector is not adversely impacted under the new tax regime.
5% GST on fabrics to stay
July 2017
The Government has ruled out relief to the textile industry, which has sought abolition of the 5 per cent GST imposed on fabrics.
Good days ahead for cotton industry: SIMA
July 2017
M Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has welcomed GST era for the textile industry and highly appreciated the NDA Government especially the Union Textile Minister, Smriti Irani
SIMA hails GST rates
June 2017
M Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has highly appreciated and thanked the concerted and constant efforts made by Union Textile Minister, Smriti Zubin Irani for fully understanding the needs of the industry and persuading the Finance Minister and Prime Minister to classify the entire cotton textile value chain under 5 per cent GST rate.
Recycled PSF producers seek continuation of tax advantage in GST
May 2017
The All India Recycled Fibre & Yarn Manufacturers Association has requested the Union Finance Ministry to maintain the current excise duty cost advantage of recycled PSF vis-à-vis virgin PSF, while finalising the GST rates.
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