Government to reconsider levy of excise duty on textile machinery
Union minister of state for textiles, E V K S Elangovan said in Coimbatore on Sunday that the issue of reconsidering the decision of levying eight percent central excise duty on textile machineries has already been taken up with the finance ministry and was awaiting for a favourable decision.
The minister was Southern India Mills’ Association (SIMA) chairman S V Arumugam at a conference, organised by Ahmedabad Textile Industry’s Research Association (ATIRA), Bombay Textile Research Association (BTRA) and South India Textile Research Association (SITRA).
It was submitted that imposing eight percent central excise duty on local machinery would also attract eight percent countervailing duty on all the imported machinery and will defeat the very object of strengthening weaving and processing, which are the weakest of links of the textile chain.