News Tags

Related Keywords: chaired by Kirit Somaiya, desires Textiles Ministry, Finance Ministry, handicrafts, handloom, impose higher anti-dumping duty, impress upon Department of Revenue, powerloom, protect the domestic industry, reconsider GST structure for textiles, Report tabled in Parliament today, Standing Committee on Labour, wool and sericulture

In a report tabled in Parliament today, the Standing Committee on Labour chaired by Kirit Somaiya said that it desires the Textiles Ministry to impress upon the Department of Revenue/Finance Ministry to reconsider GST structure for textiles and impose higher anti-dumping duty to protect the domestic industry.

Related Keywords: boost investment, boost job creation, clear Rs 170-crore special package, comprises small and medium enterprises, employment intensive sector, Finance Ministry, knitwear sector, lift sagging exports, Textile Ministry

The textile ministry is expecting the finance ministry to clear Rs 170-crore special package for the knitwear sector at the earliest as it is an employment intensive sector so any effort to boost investment will boost job creation and lift sagging exports.

The knitwear industry, which mainly comprises small and medium enterprises, was left out in the earlier scheme of things. Exporters believe that the package can ease the pain especially after the goods and services tax rollout.

Related Keywords: based on the recommendations, Designated Authority in the Commerce Ministry, Finance Ministry, household and industrial purposes, imposed an anti-dumping duty, ltek Beissel Ltd had filed the petition, revenue department, sewing machine needle. imports from China, used for sewing a number of products, valid for a period of five years

The Finance Ministry based on the recommendations of the Designated Authority in the Commerce Ministry, the revenue department has imposed an anti-dumping duty on 'sewing machine needle' imports from China

An anti-dumping duty of Rs. 1,54,732 per lakh needles has been imposed by the department of revenue. This anti-dumping duty would be valid for a period of five years.

ltek Beissel Ltd had filed the petition seeking a sunset review investigation on 'sewing machine needle' imports from China.

Related Keywords: affected by the move, Amended Technology Upgradation Fund Scheme, Cabinet Committee on Economic Affairs, committed liabilities under old scheme, completely rejects claims of textile mills, Finance Ministry, owner of a textile mill, so called black out period, subsidy against investment, Textile Commissioner, under TUFS

The Cabinet Committee on Economic Affairs (CCEA) decision to introduce the Amended Technology Upgradation Fund Scheme (ATUFS) and approved R12,671 crore for its “committed liabilities” under the old scheme completely rejects claims of textile mills that had sought subsidy against investments made under the Technology Upgradation Fund Scheme (TUFS) during the so-called black-out period, a senior official said.

Related Keywords: duty applicable, Finance Ministry, flax content over fifty percent, imports from China and Hongkong, imposed definitive anti dumping duty, included Jayshree Textiles, on flax or linen fabrics, petition filed by Indian manufacturers

Following the petition filed by Indian manufacturers of Flax fabrics, which included Jayshree Textiles, a unit of Adity Birla Nuvo Ltd and other manufacturers across India, seeking continuation of anti-dumping duty on ‘flax’ fabric imports from China and Hong Kong and based on the recommendations of the Designated Authority in the commerce ministry in its sunset review, the Finance Ministry has imposed definitive anti-dumping duty on ‘flax’ or ‘linen’ fabric imports from China and Hong Kong.

Related Keywords: cotton, export incentives, Finance Ministry, market scheme

The Finance Ministry has done away with certain export promotion incentives on cotton, cotton yarn exports. The apparent surge in export value of these products in recent years has prompted the Government to remove these export promotion incentives for these products, official sources said.

Cotton yarn exports will also not be eligible for benefits of incremental export incentive scheme.