The Southern India Mills Association (SIMA) has welcomed the move by GST council to reduce the service tax from 18% to 5% on all textile manufacturing services.
M.Senthil kumar, President of IMA briefing media here said that over 80% manufacturing of textiles is carried by job work and in textile clusters. The job work is being carried out by MSME companies. “The textile manufacturing sector thanks the Textile minister and Tamilnadu Chief minister Edapadi Palanisamy for heeding to the request of the SIMA as the textile manufacturing would highly benefited by the scaling down of the GST levies”.
In the mean while the GST Council should include read made garments, furnishings and other value added services under the same gambit and reduce the service tax to five percent.
M.Senthil kumar, President of IMA briefing media here said that over 80% manufacturing of textiles is carried by job work and in textile clusters. The job work is being carried out by MSME companies. “The textile manufacturing sector thanks the Textile minister and Tamilnadu Chief minister Edapadi Palanisamy for heeding to the request of the SIMA as the textile manufacturing would highly benefited by the scaling down of the GST levies”.
In the mean while the GST Council should include read made garments, furnishings and other value added services under the same gambit and reduce the service tax to five percent.