Branded garments will be out of reach for middle class sections with the implementation of additional 2 percent excise duty as they were already paying 5 percent excise duty, this will drive readymade garments traders and textile merchants into severe losses.
Readymade garments traders and textile merchants demanding the Centre roll back 2 percent excise duty immediately, downed shutters in the city on Thursday.
Members of Vijayawada Textile Merchants Welfare Association also expressed solidarity by closing shops in Vasthralatha and Krishnaveni cloth market.
They held a rally from Lenin Centre to the sub-collector's office raising slogans and later submitted a memorandum to the sub-collector. Urging the government to withdraw its proposal, they said that they are ready to fight it out.
President of Apparel Manufacturers and Marketers Association (AMMA) G V S Harishchandra said that the garment sector generates the second highest employment after agriculture in the state. Additional excise duty will have an adverse impact on the garment sector.
The garment sector that is already crippled, the additional tax burden will wreck the business. Also more than 60 percent of small-scale readymade traders will suffer severe losses.
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