{"id":737,"date":"2021-10-06T12:40:34","date_gmt":"2021-10-06T12:40:34","guid":{"rendered":"https:\/\/taxolegal.com\/?page_id=737"},"modified":"2021-10-09T14:00:10","modified_gmt":"2021-10-09T14:00:10","slug":"blog","status":"publish","type":"page","link":"https:\/\/taxolegal.com\/index.php\/blog\/","title":{"rendered":"BLOG"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"737\" class=\"elementor elementor-737\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6756941 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6756941\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-841faba\" data-id=\"841faba\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2bac319 elementor-widget elementor-widget-heading\" data-id=\"2bac319\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Intriguing Saga of Inverted Duty Structure in Textile Industry: \n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-688be8a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"688be8a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a7ce15b\" data-id=\"a7ce15b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-954b4c0 elementor-widget elementor-widget-text-editor\" data-id=\"954b4c0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>IS THE TEXTILE INDUSTRY BEING TAKEN FOR A RIDE?<\/p><p>-Monish Bhalla<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5a2c31a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5a2c31a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-35ae2a1\" data-id=\"35ae2a1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-173cf37 elementor-widget elementor-widget-text-editor\" data-id=\"173cf37\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>\u00a0\u201cSecretary to the Council stated that the meeting of the Fitment Committee had been convened to consider the deliberations\/recommendations made by the Committee of Officers on <strong>Revenue Augmentation<\/strong>, which was set up a few months ago. He further said that the Committee of Officers on <strong>Augmentation of Revenue looked at some of the structural anomalies in the GST such as inverted tax structure which has led to distortions.\u201d \u2013 39<sup>th<\/sup> GST Council Meeting -14<sup>th<\/sup> March 2020<\/strong><\/p><p>\u201cInverted structure has been acting as detriment to the growth of textile sector and investment in the sector. The Ministry of Textiles had also recommended for correcting inverted rate structure so as to unshackle it from the burden of taxes (accumulated ITC etc.). This would increase the employment opportunities in the Textile industry and also make our exports competitive\u201d.\u00a0<\/p><p>Source -JS(TRU-1) Giving the presentation to the GSTC Members<\/p><h4>39th GST Council Meeting held on 14th March 2020 by Video Conferencing<strong>.<\/strong><\/h4><p>Secretary to the Council stated that the meeting of the Fitment Committee had been convened to consider the deliberations\/recommendations made by the Committee of Officers on Revenue Augmentation, which was set up a few months ago. He further said that the Committee of Officers on Augmentation of Revenue looked at some of the structural anomalies in the GST such as inverted tax structure which has led to distortions.<\/p><p>Inverted structure has been acting as detriment to the growth of textile sector and investment in the sector. The Ministry of Textiles had also recommended for correcting inverted rate structure so as to unshackle it from the burden of taxes (accumulated ITC etc.). This would increase the employment opportunities in the Textile industry and also make our exports competitive\u201d.\u00a0<\/p><p>During the course of the said meeting, The JS TRU informed the Members of the Council that \u2026<\/p><p>the Fitment Committee proposed the following rate structure on textiles:<\/p><p>(a) 5% GST on cotton and other natural fibres (except raw jute, silk and wool) and all natural fibre yarns.<\/p><p>(b) 12% GST on manmade fibres<\/p><p>(c) 12% GST on MMF yarns<\/p><p>(d) 12% GST on all fabrics<\/p><p>(e) 12% GST on all garments and made-up\u00a0<\/p><p>(f) 12% GST on dyeing services<\/p><p>Interestingly, the Honorable Member from Chhattisgarh stated that the presentation did not make it clear as to what is being targeted. Is it procedure, relief to manufacturer or revenue augmentation?<\/p><p>The Chief Economic Adviser stated that the objective of the proposal is revenue augmentation<\/p><h4><strong>what was the purpose of the Committee of Officers on Augmentation of Revenue<\/strong><\/h4><p>On 10<sup>th<\/sup> October 2019 ,\u00a0 A committee of officers was formed with a focus on Revenue Augmentation and the said panel has been formed by the GST Council to look into revenue shortfall being faced by the states post implementation of the Goods and Services Tax .The committee has been tasked with suggesting measures to boost GST collections, to make businesses comply with GST voluntarily, ways to better administrative coordination.<\/p><p>\u00a0The GST Council Secretariat Order dated 10<sup>th<\/sup> October 2019 is annexed for the sake of ready reference.<\/p><p>( To read complete research\u00a0 article\u00a0 IS THE TEXTILE INDUSTRY BEING TAKEN FOR A RIDE?<\/p><p><a href=\"https:\/\/drive.google.com\/file\/d\/1R9F8nlardYt82EiROmPlpUGUNKejzbXA\/view?usp=sharing\">download PDF file ( 44 pages) )<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Intriguing Saga of Inverted Duty Structure in Textile Industry: IS THE TEXTILE INDUSTRY BEING TAKEN FOR A RIDE? -Monish Bhalla \u00a0\u201cSecretary to the Council stated that the meeting of the Fitment Committee had been convened to consider the deliberations\/recommendations made by the Committee of Officers on Revenue Augmentation, which was set up a few months [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-737","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/taxolegal.com\/index.php\/wp-json\/wp\/v2\/pages\/737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taxolegal.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/taxolegal.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/taxolegal.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taxolegal.com\/index.php\/wp-json\/wp\/v2\/comments?post=737"}],"version-history":[{"count":13,"href":"https:\/\/taxolegal.com\/index.php\/wp-json\/wp\/v2\/pages\/737\/revisions"}],"predecessor-version":[{"id":856,"href":"https:\/\/taxolegal.com\/index.php\/wp-json\/wp\/v2\/pages\/737\/revisions\/856"}],"wp:attachment":[{"href":"https:\/\/taxolegal.com\/index.php\/wp-json\/wp\/v2\/media?parent=737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}