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Home / India News / 2007 / May 2007 / May 24, 2007
No cess on textiles and textile machinery, says Cabinet
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No cess on textiles and textile machinery, says Cabinet

The Union Cabinet today gave its approval for exemption of all textiles and all textile machinery manufactured in India from textiles Committee Cess under section 5E of the textiles Committee Act, 1963.

New Delhi, May 24 :The Union Cabinet today gave its approval for exemption of all textiles and all textile machinery manufactured in India from textiles Committee Cess under section 5E of the textiles Committee Act, 1963.

The exemption of textiles Committee cess under section 5E of the Textiles Committee Act, 1963 will rationalise the tax and cess burden on the textile sector in the changed scenario of global competitiveness and thus improve competitiveness of Indian textile sector in global markets.

ANI

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