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- Title
Industry asks for uniform 4% duty on fibre and yarns.
- Abstract
The article reports that synthetic yarn and fiber manufacturers in India have asked finance minister P. Chidambaram to introduce a uniform excise duty of 4% from fiber intermediates to yarns. The author said the implementation of the uniform excise tax will standardize duty drawback rates on all fibers and yarns. The excise duty placed upon synthetic yarn and fibers lead to revenue loss. A uniform excise duty might eliminate revenue loss to the government, according to a pre-Budget memorandum submitted to the finance ministry by the textile industry.
- Subjects
INDIA; EXCISE tax laws; SYNTHETIC fibers; SYNTHETIC textiles; BUSINESS losses; TEXTILE industry; CHIDAMBARAM, P., 1945-
- Publication
Man-Made Textiles in India, 2007, Vol 50, Issue 2, p79
- ISSN
0377-7537
- Publication type
Article