Surat textile traders preparing GST demand list
It has been seven months since Goods and Services Tax (GST) was first implemented. The textile and apparel industry is still facing the issues and learning how to better deal with the new system.
In the latest development, textile traders of Surat, the hub of Indian man-made fabric (MMF) industry, are preparing a list of demands regarding GST and losses incurred by the sector due to the implementation of the new tax regime.
They (the traders) were asked to do so during a meeting with Commercial Tax Commissioner PD Vaghela on February 5 in Surat. The meeting was attended by Southern Gujarat Chamber of Commerce and Industry (SGCCI), Federation of Indian Art Silk Weaving Industry (FIASWI) and powerloom weaving community. “The
Textile Commissioner has sought a detailed report from us regarding post GST losses and other issues. The issues will be taken up in the forthcoming GST Council meeting,” FIASWI Chairman Bharat Gandhi was quoted as saying.
Refund of the GST paid on the textile machinery purchased under Export Promotion Capital Goods (EPCG) scheme, opening stock credit on the goods held by the weavers and traders pre-GST are the long pending demands of the industry. The delegation has also urged the