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MY SELF IS RISHAV KUMAR SINGH I AM FROM CLASS- XI-H

INTRODUCTION ABOUT MYSELF. MY SELF IS RISHAV KUMAR SINGH I AM FROM CLASS- XI-H AND I AM GOING TO SHOW YOU MY PRESENTATION ON (TEXTILE INDUSTRY) I HOPE YOU WILL LIKE THIS……. TEXTILE INDUSTRY. TEXTILES INDUDTRY. TEXTILE INDUSTRY. MINISTER OF TEXTILE DEPATMENT. SHRI ANAND SHARMA.

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MY SELF IS RISHAV KUMAR SINGH I AM FROM CLASS- XI-H

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  1. INTRODUCTION ABOUT MYSELF • MY SELF IS RISHAV KUMAR SINGH • I AM FROM CLASS- XI-H • AND I AM GOING TO SHOW YOU MY PRESENTATION ON (TEXTILE INDUSTRY) • I HOPE YOU WILL LIKE THIS……..

  2. TEXTILE INDUSTRY

  3. TEXTILES INDUDTRY TEXTILE INDUSTRY

  4. MINISTER OF TEXTILE DEPATMENT SHRI ANAND SHARMA

  5. What Is Textile industry? The textile industry includes every business involved in growing or producing fibers, such as sheep farmers and cotton growers; those who make the fiber into thread; those who make the thread into cloth; and those who dye, bleach and finish the cloth.The textile industry also includes chemical companies that make synthetic fibers and all the resultant products. Then there are the wholesalers and retailers of all these textiles, and the products that are made from them…….

  6. DISTRIBUTION CHANNEL

  7. Budget : textile

  8. BUDGET

  9. BUDGET MEASURES • Rs 30 bn funding to NABARD to provide support to financially unviable handloom weavers with huge debt burdens. • Optional tax levy at 10% made mandatory on branded garments and made ups. • Surcharge on domestic companies reduced to 5% from 7.5%. • Basic customs duty on nylon yarn and nylon fibre reduced from 10% to 7.5%. • Lower rate of central excise duty increased from 4% to 5%. • Rate of Minimum Alternative Tax (MAT) proposed to be increased from 18% to 18.5% of book profits.

  10. BUDGET IMPACT • Companies that do not complete their capex related borrowing by the due date of March 31, 2012 will have to incur higher borrowing cost as the interest subvention under the Technology Upgradation Fund (TUF) will expire by that date. • The financial support from NABARD could help the revival of unorganized players in the handloom industry and evade mass unemployment in the sector. • Higher taxes on branded garments and madeups will eat into the profits of the sector. • The lower surcharge could have a positive impact, albeit nominal, on the profits of the smaller players in the sector.

  11. COMPANY IMPACT • Companies like Raymond, Arvind and Alok Industries that have presence in branded garments, madeups and textile retailing will be impacted by the higher tax levy. • Most companies in the sector are highly leveraged and may have to cap their capex plans until FY12.

  12. Service tax

  13. Following are the custom duty proposals relating to Textile sector: • Looking at the need to modernise the weaving sector, it is proposed to fully exempt automatic shuttle-less looms from basic customs duty of 5 per cent. Similarly, full exemption from basic duty is being accorded to automatic silk reeling and processing machinery as well as its parts. It is also proposed to restrict these exemptions and the existing concessional rate of basic customs duty of 5 per cent only to new textile machinery. Second-hand machinery would now attract basic duty of 7.5 per cent. • Other proposals on textiles are: • To reduce basic customs duty on wool waste and wool tops from 15 per cent to 5 per cent • To reduce basic customs duty on Titanium dioxide from 10 per cent to 7.5 per cent • To extend full exemption from basic customs duty to aramid yarn and fabric used for the manufacture of bullet proof helmets

  14. impact: • The Full exemption to new automatic shuttle less looms as against basic custom duty of 5% will bring down the landed cost of machinery and induce industry players in making investment in latest technology available overseas. • The detailed custom duty tariff is given in Annexure - I

  15. Excise Duty Proposals • i) Increase in Excise Duty Rates: • Considering the need for fiscal correction, the standard rate of Central Excise Duty has been raised to 12% from the existing level of 10%. In addition, the merit rate has been increased to 6% from 5% and lower merit rate from 1% to 2%. • This would result in increase in Polyester yarn duties to 12% from present 10%. The effective rate after considering Education cess would be 12.36% from present 10.30%.

  16. ii) Reduction in effective rate of excise duty on branded garments and made ups: • Presently, excise duty of 10% is applicable to branded ready-made garments with abatement of 55% from the Retail Sale Price. In the budget, the excise duty rate has been increased to 12% with the enhancement in abatement to 70%. As a result, the incidence of duty as a percentage of the Retail Sale Price would come to down to 3.6% from present 4.5%.

  17. Impact: • As the effective duty is coming down by 0.90% of the Retail Sale Price, the cost in the hand of the consumer would be lower to that extent and this coupled with lower cotton prices compared to last year is likely to stimulate the demand.

  18. he detailed Excise duty tariff is given in Annexure – II • The proposals relating to Customs and Central Excise are estimated to result in a net revenue gain of Rs. 27, 280 crores.

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