Cabinet to abolish textile committee cess on garments
05 Jan '07
1 min read
Cabinet under the Chairmanship of Prime Minister Manmohan Singh decided yesterday to abolish the textile committee cess on ready-made garments and gave permission to Central Warehousing Corporation to form a subsidiary that would develop rail side warehousing complexes and multi-modal logistics hub.
This removal of cess would help ready-made garment sector to improve competitiveness in international market.
This year cess contributed Rs60 crore to the exchequer and Rs53 crore for the period of 2005-2006.
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