The textile sector is likely to see a uniform rate under Goods and Services Tax (GST), according to Union Textile Minister Smriti Zubin Irani.
Industry sources said that when asked about the GST, the Minister urged the industry associations to give suggestions and views during meetings that will be held in different cities shortly. She also indicated that there might be a uniform rate across the value chain.
The minister took part in a meeting of the Parliamentary Consultative Committee on development and modernisation of power loom sector and another one with the industry associations. The Centre has allocated ₹52 crore for the powerloom sector in 2014-2015, ₹110 crore in 2016-2017, she told reporters.
It had introduced the PowerTex India scheme, which included subsidy for weaving units that want to go in for solar energy, construction of dormitory for workers. She urged the powerloom weavers to use the helpline to get guidance on schemes and subsidies for the sector.
Textile Commissioner Kavita Gupta said that the outlay for the powerloom sector this financial year was ₹166 crore.
During the meeting with the industry, on the demand for removal of anti-dumping duty on imports of man made fibre, the Minister asked the industry to collect concrete data to support their plea. Regarding fluctuating yarn prices, the Minister urged the powerloom sector to go in for the yarn bank scheme project under the PowerTex India scheme.
The Textile Commissioner added that the textile policy is likely to be finalised shortly.
