The readymade garment industry has been protesting for quite a long time now, against the negative impact they see because the impact of excise duty on readymade garments industry, this has been a big obstacle in the growth of the industry. With lights of hope the South India Garment Association has sent a memorandum to R S Gujral, Revenue Secretary, and Textile as well as Medium & Small industry Ministry, to seek government’s attention for the revival of the apparel industry and reconsidering the policy.
Kundan Jain, President, South India Garment Association said, “Tariff value for RMG falling under the chapters 61, 62 and 63 has been fixed at 45 per cent of MRP.
The manufacturers faced hard time due to rise in the whole sale price. This is making them loose business so the associates want the government to understand the loose for the industry an remove this tax under the above mentioned chapters enabling the industry to pay excise duty only on the transaction value of the garments.