Ludhiana: From January 1, employers into the work of coloring or printing textile and textile products must pay 12% GST on their sales compared to the current level of 5%.
And if they provide work jobs to anyone who is not listed under GST, then the 18% tax will apply.
On November 18, the Ministry of Finance has issued a notification in this matter.
At that time it had also issued a notification for an increase in GST levels on fabrics and garments from 5% to 12%.
Angry, the businessman had called the Gherao of Prime Minister Narendra Modi on November 25.
NaveNeen Thaman, a Tax Professional, said, “In step to stop the accumulated input tax credit refund (ITC) because GST is higher in the input of the finished goods, the GST Council increases it to the work of the workout work or textile and textile product printing starting 1.
Previously , all types of job work associated with textiles and products attract 5% GST.
whether it colored threads and fabrics or fabric printing and clothing, taxpayers are entitled to refund of ITC accumulation as input for dyeing this work – such as dyes, chemicals and materials Packaging – This work works 18% interesting 5% GST.
Therefore, ITC 13% is claimed again.
Now, if this job work is done for registered assessors under GST, the value will be 12% another 18%.
“Thaman said,” From January 1, this work worker will not be entitled to a refund of accumulated ITC.
However, there will be no change in GST for P Other work, such as washing, sewing and embroidery, and it will continue to be 5%.
Although the GST Board has taken these steps to maintain the tax rate for the same industry and to prevent false billing to take refunds, allegations for dyeing and printing will rise, leading to increased levels of clothing for consumers.
“The Tarun Jain Industrialist brings, which is the National President of Bharatiya Arthik Party (BAP), said,” The decision to increase GST is 7% is tactics to destroy small units that have struggled.
But we will not accept this cruel action in the center and have decided that thousands of entrepreneurs will be Gherrao’s residence PM Narendra Modi in New Delhi on November 25.
“Harispal, the President of the Ludhiana MSME association,” we feel) cheated and humiliated.
We are not consulted by the center before continuing with the decision to increase GST to 12% of 5% in the final product and raw materials.
In addition, the notice suddenly became shock because no one knew about it until now.
We came to find out through the Times of India.
This is our request to the center not to advance with this increase.
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Bizmen is surprised as coloring & printing work Works GST down to 12% from 5%
