INDIA: Cotton farmers to be benefited by Cenvat

MUMBAI: Mr. Kishorilal Jhunjhunwala, President, East India Cotton Association, said that the budgetary proposal of making Cenvat optional would help cotton textile industry in reviving its production capacity and consumption of cotton is expected to go up. This will also help farmers.

Mr. Jhunjhunwala stated for those opting to pay duty, and thereby avail of duty credit, the applicable rates of duty for all other goods of chapter 50 to 63 will be 4 per cent for pure cotton textiles. 

July 13, 2004

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Added: July 13, 2004 Source: Agencies
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