Blogs

Background:

The textiles and apparel industry in India accounts for about 10% of manufacture or production and 2% of India's Gross Domestic Product (GDP) and constitutes about 13% of country's export earnings. The industry is currently estimated at around $ 108 billion and is expected to reach $ 223 billion by 2021. Textile industry has been enjoying various tax exemptions, benefits and concessions under indirect taxes. Introduction of GST could have a considerable impact on textile...

The Indian auto industry is one of the largest in the world. The industry accounts for 7.1 per cent of the country's Gross Domestic Product (GDP). Almost 13% of the revenue from central excise is from this sector and claims a size of 4.3% of total exports from India. Despite its contribution to the economy and growth potential, this sector has been combating the hardship of high tax rates for substantially a long period of time now with central excise duty ranging between 12.5% to 30%...

Background:

The textiles and apparel industry in India accounts for about 10% of manufacture or production and 2% of India's Gross Domestic Product (GDP) and constitutes about 13% of country's export earnings. The industry is currently estimated at around $ 108 billion and is expected to reach $ 223 billion by 2021. Textile industry has been enjoying various tax exemptions, benefits and concessions under indirect taxes. Introduction of GST could have a considerable impact on textile...