New Delhi: Union Textile Minister Smriti Irani on Thursday chaired a workshop to assess the readiness of the textiles sector PSUs, export promotion councils and other stakeholders on the Goods and Services Tax (GST).
According to official sources, the textiles minister also allayed the industry's concerns on the impact of the GST in the meeting.
"Workshop conducted today will further benefit officials, EPCs and PSUs in spreading awareness among traders/manufacturers across the country," Irani said in a tweet.
On May 4, the textiles ministry had directed all its export promotion councils and public sector undertakings to conduct awareness camps on basic features and procedures of the GST, set to be rolled out from July 1.
"Most PSUs have completed or are at different stages of registration, migration/transition of their software to a GST compatible software," Irani said.
She further said that a separate GST cell has been constituted at @TexMinIndia to guide stakeholders on GST.
Irani's tweets came as businessmen in Surat associated with the textile industry have threatened to go on indifinite strike from June 24 to protest GST.
There was no tax on cotton fabrics earlier. But, the union government has imposed 05% GST on cotton fabrics and has also hiked from existing 05% tax to 15% GST on polyster fabrics.
The textile industry is under recession since last few years. Industry insiders feared that situation will worsen after imposition of GST.