The Southern India Knitwear Manufacturers Association Asked The Government To Abolish The Mandatory Consumption Tax.

2011/7/5 15:33:00 47

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The southern India knitwear manufacturers association (SIHMA) will take a new look.

Memorandum

Forwarded to the Federal Ministry of finance, the memorandum explains the difficulties brought to the knitting industry by levying a consumption tax on brand clothing.

Knitting industry

Earlier, a complaint was made to ask the federal government to cancel the budget proposal.

Garments and garments

Levying a 10.3% consumption tax on textiles and finished products, but failed to change the position of the government.

AC Eswaran, President of SIHMA, said that when calculating the consumption tax, the Ministry of finance should set at least 500 rupees' tax allowance for each garment. If the budget announces the consumption tax, it can not be declared invalid.

He pointed out that the time of compulsory consumption tax is the time when the industry is facing tremendous pressure on cotton price and yarn price fluctuation. Besides, the industry faces other difficulties.

The knitwear manufacturer reminded the Ministry of finance that the consumption tax on knitted apparel was first collected in 2003, and the coalition Progressive Union government abolished the consumption tax in 2004, but this year the consumption tax has been resumed.