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ICMF wants uniform duty

By Our Special Correspondent

NEW DELHI NOV. 25. The Indian Cotton Mills Federation has urged the Centre to review the excise duty structure for the textiles industry and remove what it called loopholes that still existed despite the extensive rationalisation effected in the last Budget.

In a pre-Budget memorandum addressed to the Finance Minister and the Textiles Minister, the President of the Federation, B. K. Krishnaraj Vanavarayar, has in particular asked for withdrawal of the turnover-based exemptions for weavers and garment manufacturers and the concessional rate of excise duty provided for semi-processors.

In addition, the federation has called for removal of the additional duty imposed on textiles and textile articles, and textiles committee cess on the ground that they were no more required.

Underlying the need for a uniform duty of 8 per cent for all segments of the textiles chain, Mr. Vanavarayar pointed out that differential rates would lead to misdeclarations and evasions.

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