Search Results for: Lace man made fibres
"at present, synthetic fibre is taxed at 18%, yarn at 12% and final output at 5%, creating a tax structure where rate on inputs is higher than that on output. this inverted structure has made it easier to import synthetic textiles, (rather) than manufacture them domestically," said sanjay jain, chairman
"refund of inverted duty is allowed, but it is complicated and leads to working capital blockage for months. goods and services tax (gst) on capital goods is not refunded," jain added. export of manmade yarn, fabrics and made-ups dropped 3% on-year in november, to $371million. as per industry estimates...
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