Web Exclusive | September 2016
Excise duty cut on MMF hinted at FICCI
The Government hinted at lowering excise duty on man-made fibre (MMF) in the new Textile Policy in order to boost investment to meet growing demand from the synthetic textiles industry. While cotton fibre attracts no duty, the Government levies 10 per cent excise duty on MMF. The industry has sought excise exemption on MMF on the grounds that the garments produced through MMF are primarily used by the economically weaker sections of society.
Kavita Gupta, Textile Commissioner, Ministry of Textiles, confirmed this news on the sidelines of TAG 2016 — the 8th Annual Conference on Textile and Apparel Industry organised by industry body FICCI.