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The Cotton Textile Export Promotion Council of India (Texprocil) welcomes the Centre’s move to double the time limit for availing Cenvat credit on inputs to one year. It has also expected the increase in service tax by two percent to 14 percent to impact the overall cost.
However, RK Dalmia, Chairman, Texprocil said that the government should have announced measures for speedy refund of service tax on export-related services.
The special additional duty on various imported raw material and inputs was announced, but unfortunately no mention of textile items in it.
