Union Textile Minister Smriti Irani responding to a question during a press conference today said that ‘GST on the job work has been brought down from 18 to five per cent.
It has been duly addressed by Finance Minister Arun Jaitley and the GST Council.
The concern of the textile industry has been addressed by reducing GST rates on job work of textile yarn and fabric manufacturing from 18 to 5 percent and this has been done for the entire textile chain.
The decision was hailed by the textile industry stakeholders as recently GST rates on the job work provided by merchant manufacturers to the wholesalers and retailers was reduced.
A job work implies a manufacturer sending goods out of the factory for specialized processing job without having to pay taxes.
Better Earth has introduced the Farmer's Fiber Retail Collection, a new range of BPI-certified, US-made compostable molded fiber plates and…
Researchers have developed an innovative wireless tagging system that can identify objects and measure temperaturE without using traditional microchips.
Avantium has made a major breakthrough in textile recycling, developing a unique method to separate and reuse both cotton and…
Ventile has teamed up with Norwegian brand Northern Playground to introduce a new lightweight anorak designed for both outdoor adventures…
Faherty Brand has announced a new collaboration with Alternew to improve the shopping experience by offering convenient alteration services to…
GFA and PDS Ventures are searching for early-stage innovators with sustainable solutions that can transform the fashion and textile supply…