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GST rate cut on leather goods to boost industry: CLE

Press Trust of India  |  New Delhi 

The Council for Leather (CLE) today said bringing down certain products of the sector in the lower slab of the (Goods and Services Tax) will give a huge boost to its growth.

"Announcement of Council to bring leather goods and garments under 18 per cent from 28 per cent and finished leather under 5 per cent from 12 per cent is a big relief and breather to the industry," CLE Chairman Mukhtarul Amin said in a statement.

He said that these measures will boost leather and help exporter to take more orders from overseas buyers.

"Now, Industry feels relieved and would be encouraged to focus more on business," he added.

Further, he said that job work in the leather industry is first step to move up in the value chain and if the job work in the sector is taxed at 18 per cent, then it will prevent the new generation to enter into business.

He also demanded to reduce the rates on Common Effluent Treatment Plant from 18 per cent to 5 per cent before the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 18:57 IST