Related Keywords: GST on cotton textile products fixed at five pc, GST on manmade fabric eighteen percent, Handlooms, hosiery and mills, Powerloom accounts for more than eighty six percent, powerloom units will take a hit, rest comes from other segments, total MMF production in India
Powerloom accounts for more than 86 percent of the total MMF production in India while the rest comes from other segments like handlooms, hosiery and mills. Incidentally, the GST on cotton textile products has been fixed at 5% while GST on man-made fabric (MMF) is kept at the proposed 18% due to which powerloom units will take a hit, industry officials said.
