Surat:
Textile entrepreneurs and traders in Surat are pinning hopes on Goods and
Service Tax (GST) Council to take proactive decision to resolve their pending
demands for simplification and tax relief under the GST when they meet on
Friday.After the representatives from textile sector
met Union minister of textiles Smriti Irani in New Delhi on Wednesday, it is
believed that the central government has seriously started working in the
direction to resolve the pending demands of the textile sector.
"We had an exhaustive meeting with Irani.
Looking at the kind of response, there are ample reasons to believe that the
government is in mood to resolve the GST issues faced by the sector. Almost 70%
of our demands will be accepted," chairman of Federation of Indian Art
Silk Weaving Industry (FIASWI) Bharat Gandhi said."Some of the key demands include the
accumulation of tax credit, opening stock credit, simplification under ITC-04,
18 per cent GST on job-work for unregistered firm, reduction of 12% GST on velvet
fabric," he said.