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Related Keywords: chemicals and dyes, claiming input tax credit, eight textile dyeing and printing mills, fabrics, fake tax invoice, ITC, oil, purchasing raw materials like lignite, reducing liability to pay VAT, Sachin and Pandesara GIDC, VAT department raids

Eight textile dyeing and printing mills in the city's Sachin and Pandesara GIDC were held for claiming input tax credit (ITC) on fake tax invoices and thereby reducing their liability to pay VAT by the VAT department of state government on Friday.

Under the VAT system, bogus dealers (dealers who take registration on wrong credentials and then disappear) issue fake tax invoices on the strength of which genuine dealers claim input tax credit and reduce their VAT liability. Now, the VAT department has tightened the noose on such mill owners. A huge ITC racket is likely to be unearthed.

Related Keywords: advertise product, bleaching and washing machines, business opportunity, chemicals and dyes, cloth processing machinery and accessories, embroidery, exhibits included accessories and machinery for textile and garments, International textile and garment industry exp, local and foreign market, opportunity for local garment, textile firms

The International Textile and Garment Industry Exhibition 2015 provide an opportunity for local garment and textile firms to advertise their products to local and foreign markets and seek more business opportunities opened at Tan Binh Exhibition & Convention Center on April 9 and will run until April 9.

The expo is co-organized by the Vietnam Textile and Garment Association, the Vietnam National Textile And Garment Group, the Vietnam Chamber of Commerce and Industry (VCCI), VCCI Exhibition Organization Services Company, and Vietnam Exhibition Organizing Joint stock Company.

Related Keywords: bfz gGmbH, chemicals and dyes, cost of production, environment and health problems, International conference, non-approved chemicals and dyes, resource efficiency, restricted chemicals and dyes, Textile Industry

The international conference on resource efficiency on Thursday called for new legislation to stop the use of restricted/non-approved chemicals and dyes in the textile industry, as it has been observed that many textile industry units in different processes make unnecessary use and waste a lot chemicals and dyes which create serious environment and health problems along with adding to the cost of production.