sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling
 Income-tax (5th Amendment) Rules, 2018
 Last-minute tax tips for late filers
 What demonetisation did to tax collections

Garments to be exempted from textile committee cess
January, 05th 2007

The Government on Thursday announced its decision to abolish the Textile Committee Cess on readymade garments. The abolition of the cess has been a long-standing demand of the industry.

"The exemption of readymade garments from Textile Committee Cess will rationalise cess and tax burden on readymade garments and improve their competitiveness in global markets," the Information and Broadcasting Minister, Mr Priyaranjan Dasmunsi, said after a meeting of the Union Cabinet.

The cess, which comes to 0.05 per cent of the production value of textile industry, is meant for funding the activities of Textile Committee. The Committee was set up by an Act of Parliament to ensure quality of textiles and textile machinery.

The industry, however, has been claiming that the cess has outlived its utility since the collections were far higher than what is required to sustain the Committee's activities.

The collections from the cess come to Rs 42 crore in a year and readymade garments account for half of it, according to industry sources.

While welcoming the abolition of cess on readymade garments, the Confederation of Indian Textile Industry said it would have been better if the entire industry were to be exempted from it.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions