India’s next-gen GST reforms lowered tax rates to 5 per cent across the textile value chain but deepened the duty inversion for upstream MMF players.
PTAIA has urged Finance Minister Nirmala Sitharaman to cut GST on PTA/MEG from 18 per cent to 5 per cent, citing ₹2,000–3,000 crore working capital blockage and the need to boost MMF growth to achieve India’s $350 billion textile trade target by 2030.
PTAIA has urged Finance Minister Nirmala Sitharaman to cut GST on PTA/MEG from 18 per cent to 5 per cent, citing ₹2,000–3,000 crore working capital blockage and the need to boost MMF growth to achieve India’s $350 billion textile trade target by 2030.
