Congress aims textile gun at GST

New Delhi: The Finance ministers of Congress-ruled states will forcefully argue at the GST Council meeting in Hyderabad tomorrow that the “flawed” taxation scheme had delivered a debilitating blow to the textile sector, putting the smaller players at great disadvantage.

New Delhi: The Finance ministers of Congress-ruled states will forcefully argue at the GST Council meeting in Hyderabad tomorrow that the “flawed” taxation scheme had delivered a debilitating blow to the textile sector, putting the smaller players at great disadvantage.

Under instructions from the Congress leadership, these states will demand immediate correction of the “mindless” tax structure that the party believes is helping big domestic mills and foreign players and could lead to the closure of small businesses and cause millions of job losses.

The textile industry witnessed violent protests and strikes after the implementation of the goods and services tax. In the aftermath of GST, an estimated 15 lakh people have lost their jobs in the textile sector and losses to the tune of nearly Rs 40,000 crore have been reported across the country.