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12% GST on textile will sound death knell for business: Traders
12% GST on textile will sound death knell for business: Traders
- Shop owners are worried about the impact on their garment business after the increased tax
- Women customers are worried as the cost of saris and other garments will go up
Nizamabad: Textile merchants and traders are worried about the impact of their business when the increase GST of 12% will come into effect from January 1 across the country and how their customers, particularly women, will respond. The Central government has increased the GST levied on garments from 5 per cent to 12 per cent.
Nizamabad, Kamareddy, Armor, Bodan Banswada, Balakonda, Dichupally and Ellareddy Bhimgal along with mandal headquarters and villages across the erstwhile district have large luxury shopping malls as well as small textile clothing shops. Out of total textile and garment business in the district, sale of clothes and other garments of women and adolescent girls accounts for 43 per cent. Erstwhile Nizamabad district has a daily turnover of over 4 crore from the retail textile business. Out of this, Rs 3.5 crore comes from sale of saris and other ladies' garments. Over the years, the textile business in the district had been sluggish stage due to the impact the Covid epidemic. Prices of cotton and other raw materials used in the manufacture of fabrics, especially silk saris, have tripled and prices of silk garments for festivals, weddings and other celebrations are going up sharply in recent times.
Under such circumstances, traders in Kamareddy and Nizamabad districts are in a state of dilemma due to the increase in GST. They are of the opinion that the increased GST will certainly put an extra burden on the buyers of saris and dresses.
The imposition of GST should be reconsidered.
The government should reconsider the GST hike. The basic necessities are getting costly due to frequent tax hike and burdening the people. Petrol prices have gone up. Edible oil prices have risen but earnings have gone down due to Covid. The government is not even sparing saris and garments without increasing prices.
Gollapalli Jyothi Bhansuwada (consumer)
It will be zero business
Raising the GST to 12 per cent is expected to reduce business by 30 per cent. Zero business, on the other hand, is more likely to happen without paying taxes. Taxing at all stages, from the manufacture of textiles, will cost four times more than in the past until it goes into the hands of consumers. Already wholesalers are unable to maintain stores. It is no longer easy to manage all the retail stores
Memorial Swapna women sari merchant
Burden on textile consumers
The GST hike will have a severe impact on the textile and sari business. The burden will passed on buyers as well. There is a situation where sales have decreased and traders lose out. Half the shops in Nizamabad Kamareddy district are in danger of closing forever if the BJP-led Central government does not withdraw its decision to increase the GST
SS srinivasarao, Sari merchant, Bhansuwada
