The Goods & Services Tax Council may consider rationalising levy on textile items, a move that is expected to help the sector to be more competitive in the global market. “The Government is deeply concerned about the present status of the textile sector. Considering the labour-intensive nature of the sector, concrete steps are required. Removing tax anomaly could be one such steps,” a senior government official told BusinessLine. As of now, barring raw silk, khadi yarn and some other items, there are three rates — 5, 12 and 18 per cent — for various textile items. Though there is a refund m...
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