New Delhi, Mar 14 (KNN) In an attempt to protect domestic Textile industry, parliamentary panel suggested the Textile sector to force the Finance Ministry to revise the GST structure for textiles sector and also insist the ministry to impose higher anti-dumping duty, according to news reports.

Standing Committee on Labor chaired by Kirti Somaiya , presented this report in the parliament and made the suggestion ‘revision of GST structure for textiles.

Panel further shed light on the various issues put forward by the Textile Ministry including inverted duties structure on man-made fiber, imposition of GST on job work, credit transfer documents issues, non refund of input tax credit, GST for weaving industry, lowering of GST rates for machinery used by MSME textile units, etc.

Highlighting the difference in proposed and approved outlay, panel said that against the Textile Ministry proposed outlay of Rs 10,109.05 crore , the Ministry of Finance has approved Rs 7,147.73 crore only during the year 2018-19.

The committee in its report mentioned that the Secretary, Ministry of Textiles has testified that though it appears that Budgeted Expenditure (B. E) 2018-19 which includes Cotton Corporation of India's loss of Rs 921.23 crore is more than the B. E 2017-18 by Rs 921.23 crore but in reality B.E 2018-19 is Rs 3 crore less than the B. E of 2017-18.

The panel pointed out that implementation of ongoing schemes of Ministry of Textiles, particularly those aimed at benefitting the unorganized sectors of power-loom, handloom, handicrafts, wool and sericulture would get badly affected by the reduction in budgetary expenditure. (KNN/YV)