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FDI in textiles doubles
Foreign direct investment (FDI) in textile sector more than doubled to $618.95 million during 2016-17 from $230.13 million in the previous fiscal, Parliament was informed recently.
GST council reduces tax rates on textile
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
The Government has ruled out relief to the textile industry, which has sought abolition of the 5 per cent GST imposed on fabrics.
Textile traders on 3-day bandh over GST
The textile trading community has decided to call for a major shutdown of business, to oppose the imposition of goods and services tax (GST) from July 1.
CMAI-TCS software on GST
The Clothing Manufacturers Association of India (CMAI)—in association with Tata Consultancy Services (TCS)—has developed a software for garment manufacturers to alert them about GST (Goods and Services Tax) compliance.
ITF hails revision of job work rates
The Indian Texpreneurs Federation (ITF) has hailed the revision of job work rates for textile, leather and gems and jewellery sectors to 5 per cent from 18 per cent announced earlier.
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