Related Keywords: central sales tax, compared to production cost, for yarn and prices remaining low, hit due to market slowing down, South India Spinners Association, southern region, Textile mills, Value Added Tax
Textile mills in the southern region for the last six months are hit due to the market slowing down for yarn and prices remaining low, compared to the production cost. Further, textile units in the State also had to pay higher value added tax (five percent) compared to central sales tax (two percent) according to the South India Spinners’ Association.
Yarn made in other States and sold here was priced lower than the yarn made by the mills in the Tamil Nadu State.
