Fashion
NITMA urges GST council to fix inverted textile duty as US tariffs hit
NITMA president Sidharth Khanna warned that the current inverted duty structure—where polyester staple fibre (PSF) is taxed at 18 per cent and polyester spun yarn (PSY) at 12 per cent while fabric is at 5 per cent—is unworkable for spinners. He urged a cut in PSF and PSY rates to 5 per cent to align with fabric.
India’s textile sector is under strain as steep US tariffs take effect today.
The Northern India Textile Mills Association (NITMA) has urged the GST Council, meeting on September 3–4, 2025, to address the inverted duty structure in the man-made fibre value chain by reducing GST on polyester staple fibre (18 per cent) and polyester spun yarn (12 per cent) to 5 per cent, aligning with fabric.
According to Khanna, the present system burdens the industry with blocked working capital in GST refunds, unutilised input tax credits, administrative delays, loss of state SGST incentives, and unfair competition from imports.
“This is a critical moment for India’s textile sector. Decisive action to remove the inverted duty structure will not only counteract the impact of US tariffs but also unlock growth and investment across the MMF value chain, thereby making this event a blessing in disguise,” Khanna stressed.
Fibre2Fashion News Desk (KD)
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Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
They said bank audit procedures have stalled numerous applications. Around Tk 57 billion in incentives for the textile and apparel sector remain unsettled in fiscal 2025-26, creating acute liquidity pressure and affecting exports.
Bangladesh trade body BGMEA representatives recently met Finance Minister Amir Khasru Mahmud Chowdhury and urged him to release pending cash incentives without waiting for quarterly release schedules and simplify the disbursement process.
They said bank audit procedures have stalled numerous applications.
They also raised concerns over loan rescheduling and working capital.
The authorities were requested to disburse incentives upon application submission instead of waiting for quarterly release schedules, according to a release from the trade body.
BGMEA vice president Mohammad Shihab Uddoja Chowdhury raised concerns over loan rescheduling and working capital. He said banks often reschedule loans to maintain non-performing loan ratios, but fail to provide the working capital factories need to resume operations.
He proposed that banks pair rescheduling with working capital support to create a win-win outcome, allowing factories to operate and repay loans. The finance minister agreed with the proposal.
BGMEA leaders also called for business facilitation and lower operational costs to help Bangladesh remain competitive in the global market. They sought policy support to remove obstacles in customs, ports and other administrative layers and to ensure an investment-friendly environment.
Fibre2Fashion News Desk (DS)
Bangladesh think tank Centre for Policy Dialogue has called for major reforms in business environment, tax collection, trade deals and FDI management, cautioning that the country’s post-election economic transition may be at risk without evidence-based decisions and strong accountability.
A CPD study identified ‘leaking revenue’ as the weakest area across all decision-making indicators.
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