INTERNATIONAL REGULATORY ROUND UP – KNITWEAR PRODUCERS FACE NEW GST RATES IN INDIA

THE INDIAN knitwear industry will have to pay a wide range of rates for the incoming Goods and Services Tax (GST) rates when the new tax is introduced from July 1 (2017). This tax is supposed to simplify how businesses pay sales taxes in India, replacing a series of national, state and local charges, but a national GST Council has set a wide range of rates for knitwear products and inputs. It includes 5% on sales of knitted and crocheted apparel and clothing accessories; bed, toilet and kitchen linen, of terry fabrics, sold at Indian Rupees INR1,000 per piece ...


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