High GST on inputs to spoil party for synthetic fabric makers

Exporters await govt's export policy- a move expected to remove anomalies in current GST structure

Textile industry exppressed satisfaction with the proposed goods and services tax (GST) regime as it hails the dawn of fibre-neutrality in the sector. Both fibres have been exempted from the porposed tax structure, while keeping the value chain within the purview of GST. 

Garments makers and even denim companies are mostly relieved as they see no drastic change in prices following GST. Synthetic fabric makers, however, feel the pinch in the wake of a higher input tax being levied on them. 

Exporters are currently awaiting the government's export policy- a move that they feel would remove anomalies present in the