TEXTILE TRADERS STRIKE OVER UPCOMING GST – DEMANDING EXEMPTION FROM ITS REQUIREMENTS
June 1st, 2017
More than 70,000 synthetic textile traders in the India’s textile hub of Surat, Gujarat, are on five days strike until June 30, to protest against the country’s new Goods and Services Tax (GST) system, which comes into force on July 1.
While the GST is supposed to simplify sales taxes for clothing and textile companies, replacing a myriad of national, state and local charges, it will force most businesses to report every transaction on the government’s taxation portal. Only those with annual sales under Indian Rupees INR2 million (USD31,000 are exempted. ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.