SIMA urges TN State Govt. to withdraw VAT increase on fuel | Textile News India
Home » News » Textile Mills News » Sima Urges Tn State Govt To Withdraw Vat Increase On Fuel

SIMA urges TN State Govt. to withdraw VAT increase on fuel

Share: 
      Newsletter

READ MORE ON GSTSIMATextile News India

Petrol Price Hike

Image Courtesy: cbn.co.za

India’s Southern India Mills’ Association (SIMA) has urged the state Government of Tamil Nadu to roll back the increase of VAT on petrol and diesel in favour of textile value chain. The textile industry is already paying 5 per cent VAT on cotton and cone yarn, as against 2 per cent CST and zero per cent tax in other states, the trade body mentioned.

Petrol and diesel prices went up in the state after Tamil Nadu Government led by K Palaniswami increased the VAT on diesel from 21.43 per cent to 25 per cent and that of petrol from 27 per cent to 34 per cent, respectively.

Also ReadSIMA hails made-ups export package

Dependency on diesel runs generators during power cuts and maintenance period was adding to their woes. In view of GST being implemented from July 1, the VAT increase should be withdrawn to save the industry, added M Senthil kumar, Chairman, SIMA.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

India’s KVIC gets order worth Rs. 2 crore from Raymond

India-based textile and apparel conglomerate, Raymond has placed an order of Rs. 2 crore to get supply of 98,000 metres of Khadi fabric...

Indian Ministers discuss measures to boost jute production

Two Indian ministers have discussed measures to boost jute production in the country... Union Textiles Minister Smriti Irani and her counterpart in the...

Welspun India re-appoints Rajesh Mandawewala as MD

Welspun India Ltd., India’s leading textile conglomerate, has re-appointed Rajesh Mandawewala as the Managing Director. His re-appointment has been approved by the Board for...

South Korean textile firm Samil Spinning to buy Buhler Quality Yarns

Samil Spinning Co., a textile company based in South Korea, has agreed to buy US-based Buhler Quality Yarns, the Korea Trade Investment Promotion...

Global e-textiles market to reach US $ 5 billion by 2027

According to the ‘E-Textiles 2017-2027: Technologies, Markets, Players’ report – published by Research and Markets (a US-based market research firm)– global e-textiles market...

Taipei textile manufacturer to start garment plant in Vietnam

Taipei-based textile manufacturer Far Eastern New Century Corp. said that its new garment plant in Vietnam might start its operations in the first...

Only 10% of Indian textile items belong to technical textiles: Textile Commissioner

Only 10 per cent of Indian textile products belong to technical textiles compared to developed nations such as Germany where 50 per cent...

Lenzing to increase Tencel fibre production

Lenzing Group, Austria-based manufacturer of textile and nonwovens cellulose fibres such as modal and lyocell, is expanding production capacities of tencel fibres at its site in Heiligenkreuz, Burgenland (Austria). “We will...

CCI rejects complaint against Prafful Overseas, Welspun Syntex

Complaints filed against two Gujarat-based yarn manufacturers Prafful Overseas (OP-1) and Welspun Syntex (OP-2) have been dismissed by Competition Commission of India (CCI),...

Bangladesh Govt. mulls to launch weaving village

Bangladesh Government is planning to launch “Weaving Village” at Shibchar in Madaripur and Janjira in Shariutpur. Prime Minister Sheikh Hasina informed this while...