Related Keywords: blockage of working capital, condition of no refund ITC, created a huge accumulation of nonrefundable ITC, entire downward value chain, fabric stage, fabrics slotted under 5 per GST slab, manmade fibres, powerloom sector, slotted under 18 percent GST rate, spinning and power loom sector, SRTEPC, Textile Industry, with weavers, yarns
The man-made fibres and yarns were slotted under 18 percent GST rate while the fabrics were slotted under 5 per GST slab with a condition of no refund ITC at fabric stage. This had created a huge accumulation of nonrefundable ITC with the weavers and blockage of working capital.
