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Mixed reactions for the interim budget from Surat textile industry

The interim budget garnered mixed response from textile Surat industry. While the one-time tax rebate for those with a taxable income of up to Rs 5 lakh annually and the businesses with annual turnover less than Rs 5 crore being allowed to file quarterly GST returns has been welcomed by the industry, the absence of any announcements regarding Input Tax Credit has left them waiting for the next GST council meeting. Manoj Agrawal, President of the Federation of Surat Textile Traders Association (FOSSTA), expressed his disappointment over the lack of subsidy or schemes for garment package.

 

 
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