To prepare the presentation to be submitted to Ministry of Textiles, The Clothing Manufacturers Association of India (CMAI) has appointed PricewaterhouseCoopers (PwC) and Wazir Advisors. Indian apparel industry is requesting for readymade garments to be included under the ‘Merit List’ of Goods & Service Tax (GST) which will be introduced in April 2016 –anticipated to range between 20 to 24 per cent. Inclusion under ‘Merit List’ will entail lower tax on readymade garments.
CMAI President Rahul Mehta also informed the Payment Default Committee of the CMAI has succeeded in recovering Rs. 400 crore in dues for its members from January 13, 2015 till date. In last 7 months of functioning of this Committee, 35 per cent of payment default complaints have been settled.
