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The GST Council鈥檚 announcement of rates for the textiles industry was met with a sense of relief on Saturday adidas nmd c2 ireland , although prices of garments over Rs 1,000 will rise marginally. The council announced a tax of 5% for yarn and cotton, and ready-made garments below the Rs 1,000 mark. For garments above Rs 1,000, the tax rate has been fixed at 12%.
Rahul Mehta of the Clothing Manufacturers Association of India said, 鈥淭he rates are satisfactory golden goose deluxe brand sneakers ireland , especially as they have removed the fragmentation in the industry. It鈥檚 been kept largely at 5%, with no confusion between types of fibre, though we are not too happy with the 12% tax on garments above Rs 1,000.鈥?According to Mehta, the impact of the latter tax won鈥檛 be significant. 鈥淭he rates will remain static in the lower price category of garments, with increase of a percent or two in the higher category,鈥?said Mehta.
He added golden goose deluxe brand ireland , 鈥淭hough there is no excise tax on ready-made garments, the industry was still paying VAT of 5.5鈥?% and 7鈥?.5% for garments above Rs 1,000. The difference in tax rate will get offset, more or less, by embedded tax credit.鈥?br > Siddharth Bindra of Biba agrees. 鈥淕etting the entire value chain under the tax net is commendable, and a landmark move,鈥?said Bindra adidas nmd city sock ireland , adding that the higher tax rate for ready-made garments above Rs 1,000 was not likely to have a significant impact. 鈥淢ost companies will be able to absorb the impact.鈥?br > The industry had been asking for a uniform tax slab of 5%. 鈥淭he impact is not only on consumers but also on millions of workers,鈥?explained Mehta.
Sajjanraj Mehta, trade activist and former president of Karnataka Hosiery and Garment Association said there would be much confusion and the gain will be restricted to innerwear with prices of most ready-made garments and fabrics set to rise. At present, the total output taxes from the sector is estimated to be around Rs 3,400 crore. 鈥淯nder a tax rate of 5%, the government would still be netting a three-fold rise in taxes adidas nmd chukka ireland , to the tune of Rs 10,000鈥?1,000 crore,鈥?added Mehta.
Atul Mishra, economist with the Confederation of Indian Textile Industry says the industry鈥檚 value chain, which is 鈥渆xtremely鈥?fragmented at present, will benefit from a uniform tax rate. 鈥淎 low and uniform GST would lead to the creation of a unified textile industry. Its simplicity will lead to better compliance across the sector.鈥?br > Textile industry is the second largest employer in India after agriculture. It directly employs 50 million and indirectly up to 60 million people.
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Golden Jubilee Celebrations of the Chennai-based Alpha Group of Educational Institutions came to a ceremonial close with the valedictory function held recently (Jan 24 adidas nmd r2 ireland , 2018) at Music Academy. His Excellency Governor of Tamil Nadu Thiru. Banwarilal Purohit took part in the event and honored the Heads of the Institution. Also he released Golden Jubilee Commemoration Volume & Souvenir. Mr. Robert G Burgess, Consul General, US Consulate, Chennai, delivered the Keynote address.
His Grace The Most Rev. Dr. Joseph Mar Thoma, Metropolitan, Malankara Mar Thoma Syrian Church; Mr. Mahesh D. Dharmadhikari adidas nmd xr4 ireland , Joint Secretary & Regional Officer, Central Board of Secondary Education; and Mr. T.G. Venkatesh, I.R.S, Additional Director, Directorate of Revenue Intelligence (Alumnus), were the Guests of Honor.
Kalaimamani Nithyasree Mahadevan (Alumnus) rendered the Prayer Song. Seva Ratna Dr. Grace George, Chairperson adidas nmd xr1 ireland , Alpha Group of Institutions delivered the presidential Address. Ms. Suja George, Vice Chairperson, Alpha Group of Institutions welcomed the gathering. The event witnessed a short documentary film on Alpha Group of Institutions and Musical Play by the students of the Group. Over 1000 people attended the event.
Since inauguration in July last year by Dr. Santhosh Babu - IAS, Chairman & MD, Tamil Nadu Handicrafts Development Corporation, the festivities spread over months in commemoration of the 50 years of service of the Group in the sphere of Education was marked with Cultural events, Enviro Fest adidas nmd human race ireland , Inter- and Intra-Collegiate Tech Fests, Youth Empowerment programmes, debates and discussions for healthy society and on topics namely Innovation - For Social Impact; Save Our World; Reduce, Reuse & Recycle; Awareness Rally on Conservation and Preservation of Energy; Planting of 50 Saplings in and around 7 campuses of The Group; Conclave on Excellence in School Education and more.

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The Alpha Group of Institutions ever since its establishment in 1967 has scripted success stories and has created new benchmarks in the ?eld of education for the past 50 years. Founded by Late Mr.M G Thomas and managed by the Alpha Educational Society, the Alpha Group presently runs and manages seven educational institutions.

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