Punjab reduces VAT to 3.63pc on cotton yarn and cloth

News Tags: cotton yarn and cloth, Garg Acrlyics, imported yarn, level playing field for Punjab industry, local yarn industry, not able to compete with outside industries, Oswal, Punjab government reduces VAT, Rajasthan around two percent, running below capacity, tax structure, VAT imposed in UP on cotton yarn, yarn industries, zero percent

Chandigarh
Punjab reduces VAT to 3.63pc on cotton yarn and cloth
Summary: 
Local yarn industry was not able to compete with outside industries as there tax structure on yarn is in the range of 0-2 percent very low compared to the tax structure of Punjab. With the Punjab government reducing the value added tax (VAT) on cotton yarn and cloth from 6.05 percent to 3.63 per cent, now the gap has been reduced.

Local yarn industry was not able to compete with outside industries as there tax structure on yarn is in the range of 0-2 percent very low compared to the tax structure of Punjab. With the Punjab government reducing the value added tax (VAT) on cotton yarn and cloth from 6.05 percent to 3.63 per cent, now the gap has been reduced.

VAT imposed in Uttar Pradesh on cotton yarn is zero percent while in Rajasthan, it is around two per cent.

http://indianexpress.com/article/cities/chandigarh/punjab-reduces-vat-on-cotton/
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Putting off cotton buying only solution to foresee price lower in near future by textile mills

News Tags: cotton buying, cotton export, cotton price, cotton season, cotton yarn export, ICAC report, new crop arrive, Oswal, spinner, textile mill

Mumbai
Putting off cotton buying only solution to foresee price lower in near future by
Summary: 
Textiles mills and spinners has decided put off buying cotton and has taken to wait-and-watch approach to stocking the commodity, as they feel that when new crop arrives in a couple of month, supply will improve and prices will drop.

Textiles mills and spinners has decided put off buying cotton and has taken to wait-and-watch approach to stocking the commodity, as they feel that when new crop arrives in a couple of month, supply will improve and prices will drop.
 

http://www.business-standard.com/article/markets/textile-mills-spinners-postpone-cotton-buying-as-prices-are-expected-to-fall-114080601083_1.html
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