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Haryana preparing new textile policy for Panipat, Sirsa soon

Related Keywords: Chief Minister of Haryana, for Panipart and Sirsa, industrial associations, Manohar Lal Khattar, notified by the end of October, preparing a new textile policy, setting up new industries, single window system

Chief Minister of Haryana, Manohar Lal Khattar who was interacting with representatives of various industrial associations in Panipat stated that the Haryana government is preparing a new textile policy for Panipart and Sirsa which will be notified by the end of October 2017.

He urged the industrialists to think positive and be patient, and assured them that their all demands would be considered sympathetically.
The government has been providing single window system to industrialists for setting up new industries in the state and this system has yielded positive results.

Textile business not going to be adversely affected with GST roll out

Related Keywords: an embedded tax of central excise duties, Goods and Services Tax, GST, Manohar Lal Khattar, not going to adversely affect, not going to put additional burden on textile, slab of 5 percent tax placed on textile, textile business, the CM of Haryana, VAT on cotton yarn

The Goods and Services Tax (GST) is not going to adversely affect the textile business. As presently, there is an embedded tax of central excise duties of 3.38% and 2.8% of VAT on cotton yarn, therefore, the slab of 5% tax placed on textile is not going to put additional burden on textile, said Manohar Lal Khattar, the CM of Haryana.

Moreover, the cascading effect would be mitigated with the event of the GST and the net effective tax on fabric would be minimal, he said at a seminar on GST for members of Legislative Assembly and officials in Haryana.

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