Related Keywords: CITI, excise duty, finished products, import raw material, Indian Department of textiles, Indo Rama Synthetics, issue of duty rationalization, make in India’ programme, man made fibre, PTA, taxed heavily, TUFS, with the PM
This is for first time that the Indian department of textiles has taken up the issue of “duty rationalization” with the PM, although it has noted that the approvals of other ministries are key to making such plans a reality. At present, man-made fibres attract a 12% excise duty while cotton fibres attract none. Similarly, imports of some of the raw materials for producing man-made fibres are taxed heavily and those of their finished products are taxed lower.
