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‘Saree’ out of excise duty ambit; brings cheers to textile traders

The Indian saree, whether it is made of six metres of fabric or undergone a designer makeover with embellishments and embroidery, will not face excise duty now as the Government of India has declared that the saree won’t be classified as a ‘Ready-made Garment’, which would have attracted tax. It may be mentioned here that branded ready-made garments and textile products with a retail price of over Rs. 1,000 attract excise duty at rates of […]

March 20, 2017

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India posts anti-dumping duty on chemicals from 5 countries

India’s Revenue Department has imposed anti-dumping duty, ranging from US $ 83.08 per tonne to US $ 168.76 per tonne on import of chemicals used in the textile industry from five countries, namely China, Iran, Indonesia, Malaysia and Taiwan, to protect interest of domestic manufacturers. The import restrictive tax has been imposed for five years by the Revenue Department on recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD), said a notification of […]

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CBEC instructs officers to not visit retail outlets without approval

Just a day after the Prime Minister Narendra Modi urged the tax administrators of the country to have a cooperative approach towards taxpayers, The Central Board of Excise and Customs (CBEC) has directed excise officials to visit apparel retail outlets or chains only when they have specific inputs regarding duty evasion and that too after the approval of senior officers. In a circular issued, CBEC said, “It is hereby directed that field formations shall not […]

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Indian textile industry glad over enhanced duty drawback rates

Finally one good news for Indian textile industry has come as Central Board of Excise & Customs (CBEC) has issued a Notification revising the drawback rates and value caps based on the data furnished by the respective manufacturing sectors. Knitted garment (cotton blended, synthetic, cotton) and knitted garment (cotton blended, synthetic) is benefitted from the new rates. Yarns counts in 100s and above, fabrics with less than 200 grams per sq. m., knitted and woven […]

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