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Memorandum against mandatory excise duty

Staff Reporter


Fix a ceiling of Rs. 500 as an exemption limit

Industry hard hit by fluctuations in cotton, yarn prices, says SIHMA


Tirupur: The South India Hosiery Manufacturers Association (SIHMA) has forwarded a fresh memorandum to the Union Finance Ministry explaining the difficulties faced by the hosiery sector due to the mandatory imposition of excise duty on branded readymade garments. The appeal was made after the earlier representations from the hosiery sector asking the Union Government to scrap the Budgetary imposition of 10.3 per cent excise duty on the readymade garments and made-up articles of textiles did not alter the government stance. SIHMA president A. C. Eswaran said the Finance Ministry should at least fix a ceiling of Rs. 500 as an exemption limit for every garment piece when computing the excise duty if the imposition of duty announced in the Budget itself could not be revoked altogether. He pointed out that the mandatory excise duty imposition had come at a time when the industry was reeling under the stress caused by the fluctuations in cotton and yarn prices, among other issues.

The hosiery manufacturers reminded the Finance Ministry that the excise duty on hosiery garments first imposed in 2003 was lifted by the United Progressive Alliance Government in 2004 only to reintroduce it this year.

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