INVC NEWS
New Delhi,
Zippers association of India has requested the Chairman of GST Council to lower the tax slab on zippers to 12% from the existing rate of 18% and Include Zipper as a part of Textile Industry.The demand have been made in the light of problems being faced by the already sick sector due to the implementation of GST and its impact on the business of zippers and apparel export industries.
“It is essential to look upon the demands because, already a sick industry, Zipper manufacturing provides employment to about 1 lakh workers mainly women. The existing tax rate of 18% is too high and unjust in comparison to that on textile items which is 5% or 12%. Many units are closing down, till now almost 27 have closed down since GST came into force”, said Amit Tandon, President of Zippers Association of India
The government policy towards Zipper industry has been lacking consistency both in terms of technicality and regulations. Time and again, it has seen many flip flops. The reason for this inconsistency has been the lack of appreciation of its uses and permanency in regulations.
Almost 80% of all zippers are used in textile industries and more than 95% of the inputs used as raw materials in their manufacture are textile items, taxed at 12%.
Zippers association of India is the umbrella organization of zipper manufacturers throughout the country. It seeks to build a platform where the manufacturers can share their concerns and be heard as a single body.
Zippers are an integral part of textile and apparel industry. They are used in the manufacture of readymade garment, woolen products, hosiery products, jackets, gloves, windcheaters and covers of pillows, mattresses, quilts and blankets etc. They are mostly made from textile materials like polyester or monofilament yarn, thread, tape etc.
