Union Cabinet exempts textile sector from Committee Cess

New Delhi, May 24 (UNI) Conceding the long pending demand of the textile sector, the Union Cabinet today approved the exemption of all textiles and textile machinery manufactured in India from Committee Cess under section 5E of the Textiles Committee Act, 1963.

This exemption will rationalise the tax and cess burden on the textile sector in the changed scenario of global competitiveness and thus improve competitiveness of Indian textile sector in global markets.

UNI