Impact of GST on Textile Industry

The GST regime brings forth transparent and simple taxation process. It is fast-paced and saves time from filing taxation at multiple levels for goods and services offered by the textile industry. For a country as vast as India, introduction of GST is the first step in making the taxation system more efficient. With the implementation of GST, movement of goods and material within the states will be much easier. Several local state taxes that are levied on the borders of states will be now eliminated and free movement of goods will be seen. This will see more efficient supply chain dynamic across industries. It is expected that the tax rate under GST would be higher than the current tax rate for the textile industry. Natural fibers (cotton, wool) which are currently exempted from tax, would be taxed under GST. Despite this, the textile industry as a whole would benefit from the…

Textile Supply Chain – My Journey, My Words!

Hi! I am Supply Chain! Many have tried to define me. Few passed, most failed. So, I thought it would be best if you heard it ‘straight from the horse’s mouth’ as they say. Today I will talk about my core and relationship with Indian Textile Market. I hope you have as much fun in reading it, as I had writing it… I have always been an integral part of growth and development. Though traditional and slightly dated, I have today come a long way from my rudimentary, old and sad self. Today I want to talk about my importance in the textile industry. I am characterized by a network of facilities and distribution. I was invented for the distribution of finished products to customers. I managed everything – from supply and demand, sourcing of raw materials and parts, manufacturing and assembly, distribution across all channels to final delivery to…

What I spend Money On!

Have you ever wondered how amazing life would be if you could just follow your heart and never stop till you drop? Be it travelling and taking trips to virgin destinations, meeting friends and family, trying each and every cuisine and beverage the world has to offer or simply relax in an armchair on some lazy mornings, what if you could do it all? Take it first hand from a person who has this lifestyle, when they say, this is totally possible! However, this wasn’t always the case… I handle a business that trades in wholesale textile and most specifically in the surplus and excess textile transactions. This was never an easy market to buy and sell in, let alone being fast and transparent with transactions! If you’re an Indian then all you need to hear is ‘train travel- general class’ and certainly, the feeling of being in that mayhem…