Rmg Exports

Only available on StudyMode
  • Topic: Loom, Duty, Excise
  • Pages : 2 (428 words )
  • Download(s) : 43
  • Published : December 15, 2012
Open Document
Text Preview
Text i les
 Excise duty on readymade Garments fur ther reduced: Excise duty of 10% is appl icable to branded ready-made garments wi th abatement of 55% f rom the Retai l Sale Pr ice. Along wi th increase in duty to 12%, FM proposes to enhance the abatement to 70%. As resul t , the incidence of duty as a percentage of the Retai l Sale Pr ice would come down f rom 4.5% to 3.6%. In terms of impact , there would be marginal benef i t to text i le companies in the higher end of the value chain

 Automated shut t le looms exempted f rom customs duty: Ful ly exempt automat ic shut t le- less looms f rom basic customs duty of 5% would have the posi t ive impact on weaving indust ry and special ly Denim sector14

UNION BUDGET
 More Handloom clusters: Set t ing up of two more handloom mega clusters, one to cover Prakasam and Guntur dist r icts in Andhra Pradesh and other for Godda and neighbor ing dist r icts in Jharkhand in addi t ion to 4 mega handloom clusters al ready operat ing.

 Three Weaver 's Service Centers one each in Mizoram, Nagaland and Jharkhand to be set up for providing technical suppor t to poor handloom weavers  Set t ing up of dormi tor ies for women workers in the 5 mega clusters relat ing to handloom, power loom and leather sectors

 Rs 500 crores pi lot scheme in twel f th plan for promot ion and appl icat ion of Geo - text i les in the Nor th East Region
 Reduct ion of basic customs duty on raw mater ials
 Mega Power loom Cluster : A Power loom Mega Cluster wi l l be set up in Ichalkaranj i in Maharasht ra wi th budget al locat ion of Rs 70 crores  Rel ief to Si lk indust ry: Ful l exempt ion f rom basic duty is being accorded to automat ic si lk reel ing and processing machinery as wel l as i ts par ts. I t is also proposed to rest r ict these exempt ions and the exist ing concessional rateof basic customs duty of 5% only to new text i le machinery

...
tracking img