(FOGWA) & (FOSTTA) & (FIASWI) , Gujarat: Fear that the government’s plan to increase revenues through higher GST will backfire

Federation of Gujarat Weavers Welfare Association (FOGWA), Federation of Surat Textile Traders Association (FOSTTA) & Federation of Indian Art Silk Weaving Industry (FIASWI) all are skeptical of GST revised Tariff regime.

Retailers in tier-Il markets suffer a major impact.

Working capital needs to go up.

This will particularly affect the demand for affordable clothing because apparel above Rs 1000 was already taxed at 12% whereas that below Rs 1,000-which is widely sold was taxed at 5% With the proposed revision, affordable garments will become costlier, and manufacturers fear that it will not just impact domestic demand in a big way but in turn even hit production.

TOI 

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

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