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PHDCCI Seeks 5% GST on Textile Raw Materials - SMEVENTURE
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PHDCCI Seeks 5% GST on Textile Raw Materials - SMEVENTURE
The PHD Chamber of Commerce and Industry (PHDCCI) has called on the Indian government to urgently address a growing GST duty inversion in the polyester textile value chain. The industry body warned that the current tax structure—where raw materials attract 18% GST while finished goods are taxed at just 5%—has caused a severe working capital crunch, reducing global competitiveness and putting jobs at risk in India’s second-largest employment-gene…
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