Govt must compensate for State levies - Textile cos
12 Nov '07
1 min read
In the wake of garment sector inclining towards a decline of 18-22 percent in rupee realization in exports and a loss of 6.2 lakh jobs in this running year, industrialists are seeking relief from the Government.
In a press conference held on November 6, the Confederation of Indian Textile Industry urged the Central Government to refund levies imposed at State Government and Municipality levels. The compensation will come up to 6 percent of the total cost.
It was also agreed that industries must not be forced to 'export taxes' and that the Government cannot impose levies on unjustifiable grounds.
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