Indian Textile Machinery Association proposes to reduce textile consumption tax

The Indian Textile Machinery Manufacturers Association recently recommended that the excise duty on all textile machinery, all parts, components and accessories should be 8% instead of 10%. Imports of used textile machinery should not be duty-free.

The Indian Textile Machinery Association recommends that imports of parts and accessories for shuttleless loom, compact ring spinning machines, and winders (currently not yet produced in India) should be zero-tariffed to promote high-tech machinery manufacturing in the country and bridge the technology Gap; The minimum tariff for all textile machinery should be 7.5%, the tax rate for raw materials, spare parts and textile machinery should be lower than the 7.5% rate for the whole machine, and the proposed tax rate is 5%; in addition, India should prohibit the import of used textile machinery without taxation. Or restrict imports.

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