NEW DELHI: To make the composition scheme under the goods and services tax (GST) more attractive, the government plans to further simplify the scheme. According to sources, the government may raise the statutory threshold under the composite scheme to include more manufactures. The government had introduced the composition scheme to reduce the compliance cost for small taxpayers.

VIJAYAWADA: Goods and Sales Tax (GST) officials conducted surprise raids at the Vijayawada Railway parcel counter at Gandhi Nagar on Wednesday and seized stocks of garments and electrical equipment worth `36 lakh. The officials found that the goods seized from the parcel counter were being transported without proper purchase bills and waybills.

India’s e-commerce market picked up sharply in the second half of 2017 after nearly 18 months, driven by strong growth at Flipkart and Amazon India and new entrant Paytm E-commerce. Online retail grew by 23 per cent to $17.8 billion in 2017, up from $14.5 billion in gross merchandise value (GMV) last year, according to RedSeer Management Consulting. 

The Apparel Export Promotion Council (AEPC) in collaboration with 3M, Association of National Institute of Fashion Technology (NIFT) Alumni set up new incubation facility which was recently inaugurated. The facility will be a platform for the startups to connect with the investors as well as mentors that could help them achieve efficiency in the production.

The Pakistan Yarn Merchants Association (PYMA) has urged the Pakistan government for removal of the regulatory duty on the import of yarn. An appeal has been made to Dr Miftah Ismail, advisor to the Prime Minister on finance, revenue & economic affairs, for supply of affordable raw materials to the textile industry to increase the production.

The government of Nepal has initiated the construction of the Rs 2.5 billion garment processing zone within the Simara Special Economic Zone (SEZ). The project expected to complete by 2018-19, will lower the cost of production by while increasing the scope of exports. The production cost in Nepal is considered to be relatively high in the region.