The textile industry has warned the government that if GST is levied on maximum retail price (MRP) as proposed then it would have mutiple ill effects on entire sector.
The textile industry has recommended to the government that the GST should be levied on ex-factory price which is much lower than the MRP.The MRP is an indicative price, which cannot be determined for any tax collection.
The textile industry has also urged the government to keep the industry in lowest GST slab rate.Trade sources believe that 12.5% of GST will be logical level without any ill effect on the industry.
Lets see what the government decides in the case of textile industry.
The textile industry has recommended to the government that the GST should be levied on ex-factory price which is much lower than the MRP.The MRP is an indicative price, which cannot be determined for any tax collection.
The textile industry has also urged the government to keep the industry in lowest GST slab rate.Trade sources believe that 12.5% of GST will be logical level without any ill effect on the industry.
Lets see what the government decides in the case of textile industry.
No comments:
Post a Comment