18% GST on MMF and Yarn – A severe blow to synthetic sector

Shri J Thulasidharan, Chairman CITI has appealed to the Hon’ble Union Finance Minister, Union Textile Minister, Textile Secretary and Revenue Secretary to reduce the MMF/Synthetic Fibre and Yarn GST rates from 18 per cent to 12 per cent.   The synthetic sector growth rate is stagnated due to high price, higher cost of manufacturing due to high[…]