Industry

Tax rebate for garments extended

The Centre has extended a tax rebate scheme for garments and made-up apparel from April 1, 2020 onward until it is merged with a wider scheme providing for remission of taxes on exported products.

The Union Cabinet approved the extension at its meeting on Wednesday, in a decision which will bring some relief to the high-employment, export-focussed textile sector.

There will be no change in scheme guidelines and the rates notified by the Textiles Ministry until the two schemes are merged, said an official statement, adding that this move is expected to make the textiles sector competitive by rebating all taxes and levies which are currently not being rebated under any other mechanism.

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Printable version | Apr 11, 2020 12:29:20 AM | https://www.thehindu.com/business/Industry/tax-rebate-for-garments-extended/article31166855.ece

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