To promote textile exports, the government announced measures - 91 Vital

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Wednesday, 20 December 2017

To promote textile exports, the government announced measures

On the export of readymade garments and manufactured manufactured goods, after GST rates which will be used for exemption of state taxes and will come under the exemption of state levy (ROSL) and they have been advised to promote garment exports.

Under the Export Promotion Scheme, the government has also increased the incentive rate to 4% - MEIS for readymade garments and make-up.

In order to promote the export of textiles and manufactured textiles, Union Textile Minister Smriti Irani said that the help of GST rates for exemption from export of increased sales of India Schemes (MIIS) and exemption from state levy / tax Will meet From October 1, 2017, the announcement of ROSL's post at GST rates will be effective. "Irani tweeted state levy / export of textile and texture in post-GST rates would be encouraged for tax deduction.

The order of Christmas will be completed by the blocked capital, which will be free from the rising MEIS rates, the AEPC has said that a garment exporters body is a statement issued by the Textile Ministry, in which ROSL's GST rates are 1.70 %, 1.25% for man-made fibers (MMF), silk and woolen fabrics and 1.48% for mixed fabrics to promote exports and textiles and In order to create more employment in the garment sector, the Ministry said that after GST RSL, the state levy exemption / rebate of taxes will help in notification of rates. Under MEIS, the rate of clothing has risen and the value of exports has increased by 2% to 4% and it is effective from 1st November.

Under the MIIS scheme, the government offers duty benefits for many products. Depending on the product and the country where it is exported, the fee benefit is given at 2%, 3% and 5%. DIGFT said that the incentive rates for textiles and manufactured manufactured under IIIS have been increased to 4% of the value of exports from November 1 to June 30. For 2017-18, the Ministry of Commerce has estimated an annual promotion of 1,143.15 crores and has been estimated at 2018-19, 685.89 crores.

In order to increase the competitiveness of the industry in the global market, exporters should also restore the blame rate on duty to the government. In October 2017, the garment exports were reduced by almost 40% and 829.44 million.

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