Govt may roll back excise duty on branded garments

Thursday, 31 March 2011, 06:23 IST   |    2 Comments
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New Delhi: The government is considering to roll back 10 per cent excise duty on branded garments, due to large scale protest by industry bodies in many parts of the country, including West Bengal, which goes to polls next month. "The excise duty on readymade garments is being opposed heavily, especially in West Bengal. It might be rolled back ," a Finance Ministry official told PTI. Although Finance Minister Pranab Mukherjee had diluted his proposal to tax readymade garments, the decision failed to satisfy the garment manufacturers who have continued the protest demanding complete roll back of the proposal. In the Budget 2011-12, the government has levied 10 per cent excise duty on branded ready-made textiles garments. However, while replying to debate on Finance Bill, Mukherjee had proposed to enhance the abatement from 40 per cent to 55 per cent of the retail sale price.
Source: PTI
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