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INDIAN PARLIAMENTARY PANEL URGES CUT TO 16 PCT GARMENT EXCISE.
NEW DELHI, May 1 Asia Pulse - A parliamentary panel has asked the Indian government to reduce the 16 per cent excise duty on branded ready-made garments "substantially", saying that the move would affect export competitiveness.
"This imposition would affect the export competitiveness of our garment industry and would make it difficult to compete with the international brands even in the pre-Multi Fibre Agreement period," the Parlimentary standing committee on commerce said.
The committee headed by Sikandar Bakht recommended that till the full Value Added tax comes into operation, the excise duty from the present 16 per cent on branded ready-made garments should be reduced ...
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