Excise Duty news and archive

Siga voices concern over excise duty speculations

The latest buzz about the return of excise duty on branded garments is worrying the domestic apparel industry. South India Garment Association (Siga) has said that though various schemes, incentives and subsidies have been given to the garment sector to develop manufacturing and create jobs, by bringing garment sector under the excise duty may...

Fashion

Apparel prices unaffected by excise removal

With the removal of 10 per cent excise duty on branded apparels this Budget, hopes had risen about a fall in prices. The industry was looking forward to pass on the benefit to the customers. In fact, the apparel retail industry that has been reeling under pressure owing to excise duty on branded garments, increasing raw material costs and low...

Fashion

Indian CVD a hindrance to Bangladeshi imports

The Indian government recently slapped nearly 16 percent countervailing duty (CVD) on import of products from Bangladesh. The step is seen as a means of keeping national interest in mind by way of balancing domestic taxes like excise duty -- that local producers pay for the products. While on one hand, India as a member of the WTO cannot devise...

Apparel

Appeal industry for lifting excise duty

Last year after the government imposed 10 per cent excise duty on branded apparels, brands holders had to increase product prices and that negatively affected the growth of the apparel retail. Since consumers tightened their purse strings due to signs of global slowdown and high product rates. In a letter to Union Finance Minister Pranab...