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Related Keywords: both raw material invite nil tax, CBEC, do not need to register, gave clarifications on its website, Indian Central Board of Excise and Customs, mills procuring raw jute and silk, not required to pay tax, raw jute and silk suppliers, regarding Goods and Services Tax, Under current GST regime, under the RCM, unregistered suppliers

The Indian Central Board of Excise and Customs (CBEC) gave clarifications on its website regarding the Goods and Services Tax (GST). The clarification was in response to complaints of mills asking raw silk and jute suppliers to mandatorily register themselves. Under the current GST regime, raw jute and silk suppliers do not need to register as both raw materials invite nil tax.

The Board further clarified that mills procuring raw jute and silk from unregistered suppliers are not required to pay tax under the Reverse Charge Mechanism (RCM).

Related Keywords: attract five percent GST, CBEC, Central Board of Excise and Customs, character and use, no new item emerges having a distinct name, remains so even after embroidery, same rate which fabric is taxed, sarees treated as fabric, value added

Clearing the air over whether sarees will be treated as garments or fabric, the Central Board of Excise and Customs (CBEC) said that sarees are treated as fabric and it remains so even after embroidery etc as no new item emerges having a distinct name, character and use.

Hence, all designer, embroidered sarees or otherwise value added will attract a 5% goods and services tax. Infact, sarees, embroidered or not, would be taxed at the same rate at which the fabric is taxed, the CBEC explained.

Related Keywords: attracts two percent excise duty on retail price above rupess thousand, big relief for textile traders in Suart, CBEC, Central Board of Excise and Customs, FOSTTA, largest man-made fabric wholesale market, out of ambit of made ups, SGCCI, takes decision to keep sari

The Central Board of Excise and Customs (CBEC) have taken decision to keep 'sari' out of the ambit of made-ups, which attract 2 percent excise duty on retail price above Rs1,000. This decision brings a big relief for textile traders in the country's largest man-made fabric (MMF) wholesale market in Surat.

Related Keywords: CBEC, chemical being dumped into India, DGAD, duties imposed under multi-lateral WTO regime, imports of the chemical from the five countries, imposed import restrictive tax, Indian revenue department, on chemicals used in textile industry, Purified terephthalic acid, to protect domestic manufacturers, unjustified increase in cost of products

The Revenue Department on recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD), has imposed import restrictive tax on chemicals (Purified Terephthalic Acid) used in textile industry for five years, said a notification of Central Board of Excise and Customs (CBEC).

The imports of the chemical from the five countries (China, Iran, Indonesia, Malaysia and Taiwan) will attract anti-dumping duty in the range of USD 83.08 per tonne to USD 168.76 per tone, to protect domestic manufacturers.