Garment makers seek reduction of GST

The South India Hosiery Manufacturers’ Association has appealed to Union Finance Minister Nirmala Sitharaman to retain 5 % GST on garments that are priced less than ₹1,000 or at least for garments of

The South India Hosiery Manufacturers’ Association has appealed to Union Finance Minister Nirmala Sitharaman to retain 5 % GST on garments that are priced less than ₹1,000 or at least for garments of less than ₹500 value.

In a memorandum submitted to Finance Minister in Chennai on Friday, the Association president A.C. Eswaran said the GST will be up from 5 % to 12 % from January 1 for garments, irrespective of the value of the product. Basic hosiery garments are purchased by all sections of society as these are essential for every one. The notification on hike in GST is a blow to the poor, he said.

A delegation from the Indian Chamber of Commerce and Industry, Coimbatore, Coimbatore District Small Industries Association, Southern India Engineering Manufacturers Association, and Tanstia submitted a memorandum to the Finance Minister seeking withdrawal of Section 194 Q of the Income Tax Act 1961 and withdrawal of section 206 AB of Income Tax Act. The delegates also sought extension of time for filing of GSTR Annual Return for the financial years 2017 to 2020.