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Service tax hike to raise garments cost: Texprocil

Apex textile body alleges govt has neglected the sector in the Union Budget

BS Reporter  |  Mumbai 

An increase in service tax will increase overall manufacturing cost of garments, said R K Dalmia, Chairman, The Cotton Textiles Export PromotionCouncil (TEXPROCIL).

Expressing displeasure over the Finance Minister Arun Jaitley's proposal to increase service tax to 14% from existing12.36%, the apex textile body says despite textile being the highest employment generator, the government neglected the sector in the Union .

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First Published: Tue, March 03 2015. 14:52 IST