SME Times is powered by   
Search News
Just in:   • Dams in India did more harm than good, says UN Water report  • Automobile manufacturers to hike vehicle prices  • Pakistan, ADB ink loan accord to improve power transmission  • Engaging P&W to get grounded jets back into service: IndiGo  • MHA probing Mary Kom's NGO, Rajiv Gandhi Trust, Nasscom 
Last updated: 17 Jul, 2017  

khadi-kvicTHMB.jpg Khadi to be exempted from GST, FM assures MSME Minister

   Top Stories
» RBI ban on LoU to severely impact MSMEs: PPMAI
» Kovind inaugurates festival of innovation and entrepreneurship
» Agri, skill development ministries sign MoU
» Silk sector witnessing steady growth: Minister
» Draft agriculture export policy up in public domain
SME Times News Bureau | 17 Jul, 2017
The Union Minister for Micro, Small and Medium Enterprises (MSMEs), Kalraj Mishra has said that the Finance Minister had assured him to exempt khadi products under the new tax regime of Goods and Services Tax (GST).

Addressing a meeting of khadi institutions in New Delhi, Mishra expressed hope that khadi products will be exempted from the GST.

He said "Even the Finance Minister had assured me to give a GST exemption for the financial development of otherwise economically backward lot of weavers and spinners."

Different khadi and village industries products attract GST of 5-12 percent, reports media recently.

He said that for the larger interest of weavers and spinners associated to khadi industry, the GST panel had started analysing the pros and cons of the new tax on various products.

Further, the minister stressed upon organising exhibitions at different Embassies and High Commissions to make khadi a global brand.

Expressing concern over decreasing numbers of artisans in the khadi sector, Minister of State for MSME Giriraj Singh said that all-round development of the sector would remain a mirage, without providing a sustainable economic growth to the artisans.

No one knows the reason that how the number of artisans came down from 11 lakh in 1950 to nearly 2 lakh at present, he added.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 20 Mar, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(22)
» Another MSME portal: will it serve its purpose(5)
» Collateral free loans available for MSMEs: Minister(2)
» Govt forms committee to study FinTech, financial inclusion of MSMEs(2)
» Budget boost to MSMEs(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter