Perfect Sourcing - June 2017

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Bandh, Strikes And Confusion Stir Nation On The Eve Of GST Implementation

We are in the midst of one of the most awaited and controversial moments of the Indian economy. With implementation of GST looming large, there is chaos in our apparel and textile industry and despite so many discussions and debates between the Government and industry, there seems to be no end to this issue. Lack of clarity on GST on textiles has complicated matters for the trading industry, involving lakhs of micro-entrepreneurs and the traditional industry practice of long-period credit and return of goods, trade body officials vociferously state. As a result, protests and ‘bandhs’ are being held in major textile hubs nationwide, like Ahmedabad, Surat, Rajkot, Delhi, West Bengal, Telengana and more. Traders feel that GST should be deferred for the textile sector for at least for a year till everyone in the eco-system is given a fair chance to prepare for what will be, to say the least, a lengthy period of trial, travail and tribulation.