Ludhiana: Relief for the Textile and Garment Industry, Decree of the Custom Council of Indirect and Customs (CBIC) to climb GST to 12% from 5% has been suspended only a day before its implementation.
The small-scale industrialist of the city has increased against this decision to climb GST since notice issued in November.
They hold that it will not only increase costs to do business, but also lead to increases at the product level for end users.
This increase came to apply from January 1, but the GST Council, in his meeting was held on Friday, decided to delay until the next meeting was held in February.
Sunil Mehra, Secretary General of Punjab Mandal, said “If the decision is implemented since January 1, thousands of textile and garment unit owners and lakh their workers will hit the road.
A 7% increase in GST not only cannot be justified, but also illogical.
Our association has decided To set the bandh that is not limited to the increase, but now as an implementation has been suspended, we have decided to call it.
“Harish Kairpal, President of the Association of Ludhiana MSMEs who have taken problems with the minister of trade unions and senior bureaucrats, said,” The delay was a big victory from Industrialists, and that is only possible because of the unity shown by factory owners, which, regardless of the size of their business, stands on their land.
We also want to thank the Ministries of Textiles and Finance to record our memorandum and continue this to the Minister of Finance Union , who received the phone to delay the increase.
“H Emant Abbi, Executive member of the United Motor Nagar Factory Association, “We thank the GST council to save the industry, especially micro and small units, from being pushed into the crisis.
A 7% increase in GST will not only increase the cost of doing business, but also reaches our sales because the final product level will rise.
Although the decision has been suspended until the next meeting and not canceled, we hope it will be brought back soon.
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NY gift for clothing, Textile Bizmen: 7% GST Hike suspended
