Govt doubles import duty on 328 textile items to 20%

NEW DELHI: Imported innerwear, pyajamas, child clothes, track suits and swimming gear will price more with the federal government doubling customs tasks on 328 textiles products to 20 in keeping with cent.

The move is aimed toward promoting home production of those products within the nation as part of the Make in India initiative.

The government hiked basic customs tasks on items akin to carpets, woollen items and ski suits, dressing robes, druggets, ensemble of silk and artificial fibre, carpets and other textile floorings, and shawls.

The Central Board of indirect Taxes and Custom (CBIC) has notified the list of textile products on which tasks were hiked to 20 in keeping with cent.

Earlier within the day, a notification to this effect was tabled through minister of state for finance Pon Radhakrishnan within the Lok Sabha.

The notification stated it seeks to "increase customs duty on 328 tariff lines of textile products from the existing rate of 10 per cent to 20 per cent ... under Section 159 of the Customs Act, 1962".

Increase in tasks would give an edge to home manufacturers as imported products are recently inexpensive.

Increase in production task will assist create jobs within the sector, which employs about 10.five crore folks.

The textiles business said that the move would assist promote 'Make in India' as imports of those items had surged significantly within the ultimate twelve months especially put up GST.

"The decision would would help millions of people get employment in the manufacturing sector of the various segments of the entire value chain," CITI stated in a observation.

The government ultimate month had doubled import duty on over 50 textile products - including jackets, suits and carpets - to 20 in keeping with cent.

According to industry experts, India would now not be capable to give any direct export incentive to the textile sector, so there's a want to give a boost to the segment to encourage home production.

Govt doubles import duty on 328 textile items to 20% Govt doubles import duty on 328 textile items to 20% Reviewed by kailash soni on August 07, 2018 Rating: 5
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