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FIASWI demands additional customs duty on imported silk

The Federation of Indian Art Silk Weaving Industry (FIASWI) has sought various duty cuts on man-made filament yarn, fibre and fabric from the government. It seeks imposition of additional customs duty on silk fabrics imported from Vietnam to provide a level-playing field to Indian manufacturers.

It has also sought reduction of customs duty on all man-made fibre and filament yarn which are not manufactured in India. Recently, the FIASWI submitted a memorandum to textile minister Smriti Irani in New Delhi through Surat MP Darshana Jardosh demanding imposition of 10 per cent duty on fabrics imported from Vietnam.

The FIASWI has also raised the issue of input tax credit (ITC) refund with the minister stating that non-refund of accumulated ITC is resulting in losses to the industry and drastic reduction in capital investment for machine modernization. FIASWI says, there is GST of 5 per cent on fabrics manufactured in India, while imported silk fabrics have zero duty. As compared to the fabrics made in India the imported silk fabrics are cheaper by Rs 45 per metre.

 
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