Trade 22-01-05 الزيارات: 2417

Textile Ministry to host CAIT, GST Fitment Committee and Bommai Committee meet on withdrawal of GST hike

Trade 22-01-05 الزيارات: 2417

05 January 2022, Mumbai:

Under the aegis of Confederation of All India Traders (CAIT), a video conference was hosted by the Ministry of Textiles with prominent trade associations of textile trade across the country this week.

Union Minister of Commerce and Textiles, Piyush Goyal was thanked for playing an important role in convincing the GST Council in postponing the increase in the rates of GST on textile, said the press release.

The trade leaders at the virtual meeting made out a case of withdrawal of GST hike.

CAIT also urged Commerce Minister Goyal to talk to Finance Minister Nirmala Sitharaman on this issue, while their National President B.C.Bhartia & Secretary General Praveen Khandelwal expressed their gratitude to Prime Minister Narendra Modi for taking a keen interest in postponing GST tax rate hike and also thanked Union Minister Goyal for becoming a strong bridge between the two.

On the demand of CAIT to withdraw the increased tax rate of GST on clothes, he directed the officials of the Ministry of Textiles to interact with CAIT and understand the point of view of the traders and also said that the Ministry of Textiles will soon facilitate a meeting of the CAIT with the GST Fitment Committee and Bommai Committee.

During his interaction with the trade leaders, Commerce Minister Goyal appreciated the role of traders in the country's trade and economy and said that traders and are an important part of India's progress and the Modi government is committed to providing a better business environment to the traders in the country as also providing ample opportunities to make not only domestic trade better but also enhancement of export trade of textiles.

He said that Prime Minister Modi himself takes interest in the subject of traders because he understands the business of the country very well.

The trade leaders at the online meeting said that before the implementation of GST in the country, there was no sales tax or VAT tax on clothes because the cloth is the basic commodity like bread and housing, crore of people have got employment through this trade across the country.

It was also discussed that the increase will affect the country's textile trade whereas on the other hand more than 85 per cent of the people of the country who buy clothes of less than one thousand rupees, will have a big financial burden upon them because currently the textile under INR 1000 is taxed at 5% GST rate.

Darshana Jardosh, MoS Textiles, Upendra Singh, Secretary textile and several other senior officials of the Ministry of Commerce, Ministry of Textiles and Ministry of Consumer Affairs were also present in this meeting.

KNN NEWS (The news article has not been edited by DFU Publications staff)

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