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Impact of GST on Textile Industry
Added On:
Fri 04/Aug/2017
Last Updated:
Fri 04/Aug/2017
Blog Name:
Impact of GST on Textile Industry
Description:
A lot of states ensured to keep the Velveteen Fabrics and textile industry free from Vat/sales tax and there are many states where this is at a very low rate. Let us understand this with an example. Karnataka kept it at 5.5% for ready-made garments and other articles. Talking about textiles, they do not fall under VAT while the small organizations and enterprises get an option to pay taxes at concessional rates under composition schemes in numerous states.
http://www.cordplus.com/impact-of-gst-on-textile-industry/
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