Zip manufacturers write to GST council demanding reduction in tax rate from 18 per cent to 12 per cent

ENA Sectors 2017-11-09 07:01:32 New Delhi, Nov 9 (KNN) The Zippers Association of India have urged the government to lower the Goods and Services Tax (GST) tariffs on the zippers from 18% to 12%. In a letter to the GST council the association has stated that zippers and fasteners are part of textile industry and should face same GST rates as textiles. The Association said that the zippers have been facing tax rate of 18% which is very high and unjust and had impacted adversely the export of the zippers. The sector has been suffering not due to its capabilities but due to inconsistencies in the policies and lowering of tariffs would provide the fastener as well as apparel export industry with competitive edge in the existing quota free world. Zippers are important part of the textiles industry and are used in the manufacturing of readymade garments, woolen products, hosiery products, jackets, gloves, and covers of pillows, mattresses, quilts and blankets. According to the association, the zipper industry is already distressed. It provides employment to about one lakh workers, mainly women and that local manufacturing and supply of zippers will shorten delivery time, boost export orders and enhance brand reputation of the garment export industry. (KNN/AG) 18378 http://knnindia.co.in/news/newsdetails/sectors/zip-manufacturers-write-to-gst-council-demanding-reduction-in-tax-rate-from-18-per-cent-to-12-per-cent 2017-11-09 07:01:32 knnindia.co.in Zip manufacturers write to GST council demanding reduction in tax rate from 18 per cent to 12 per cent