Surat: Union finance minister Nirmala Sitharaman has assured that the issue concerning the input tax credit (ITC) under Goods and Services Tax (GST) for man-made fibre (MMF) sector will be taken up positively once the monsoon session is over. 

A delegation of Southern Gujarat Chamber of Commerce and Industry (SGCCI) led by president, Ketan Desai, met Sitharaman in New Delhi to discuss various issues concerning textile industry, mainly the pending refund under the ITC. 

Ketan Desai told TOI, “After meeting the Union finance minister, we felt that the issue of ITC credit, which is bothering the textile sector for the past two years may be sorted out after the monsoon session is over. She clearly said the issue will be taken up after the monsoon session. The textile industry, mainly the powerloom weavers, are unable to carry out expansion and make new investments due to the ITC issue. 

Published On : 03-07-2019

Source : Times of India