Call off strike, SRTEPC tells textile traders

  • | Tuesday | 27th June, 2017

We are hopeful that the central government will allow weavers to take the benefit of input tax credit. The ministers were firm in their stand that they will not allow the domestic textile industry, especially the weavers, to die due to cheap import of fabrics from China." The weavers will purchase yarn at 18% GST and sell the fabric at 5% GST. Instead, traders should approach the central government with their legitimate demands. Surat: Synthetic and Rayon Textile Export Promotion Council (SRTEPC), the apex body of man-made fabric (MMF) sector, has appealed to textile traders not to resort to strike and approach the Centre with their legitimate demands to resolve the issues on Goods and Services Tax (GST).SRTEPC chairman Narain Aggarwal told TOI, "Strikes, dharnas and public meetings are not long-term solutions to resolve things.

Surat: Synthetic and Rayon Textile Export Promotion Council (SRTEPC), the apex body of man-made fabric (MMF) sector, has appealed to textile traders not to resort to strike and approach the Centre with their legitimate demands to resolve the issues on Goods and Services Tax (GST).SRTEPC chairman Narain Aggarwal told TOI, "Strikes, dharnas and public meetings are not long-term solutions to resolve things. Instead, traders should approach the central government with their legitimate demands."According to Aggarwal, a delegation of industry leaders, including Dhiru Shah, chairman of Fairdeal Filaments, and SRTEPC's former chairman, Anil Rajvanshi, had met Union textile minister Smriti Irani and Union minister of commerce Nirmala Sitharaman in New Delhi on Friday last.A strong representation was made on the burning issue of import of cheap fabrics from China, which is going to ruin the powerloom weaving sector in the country. A demand was made to increase import duty on Chinese fabrics to protect the domestic industry.The delegation members also discussed need to lower the proposed 18% duty on MMF to 12% and providing refund on accumulated credit to weavers. The weavers will purchase yarn at 18% GST and sell the fabric at 5% GST. The GST Council, however, has not allowed input tax credit to the textile sector, which will affect profitability of weavers.Aggarwal said, "Both the ministers assured us on looking into cheap import of Chinese fabrics as well as refund of accumulated tax credit to the weavers. We are hopeful that the central government will allow weavers to take the benefit of input tax credit. The ministers were firm in their stand that they will not allow the domestic textile industry, especially the weavers, to die due to cheap import of fabrics from China."

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