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Coimbatore, Nov. 24

India Spinning Millowners Association (ISMA), a textile spinners body here, has asked the Tamil Nadu Government to either waive the four per cent sales tax collected on the energy consumed by the textile industry or bring down the rate to just one per cent . In a memorandum submitted to the State electricity minister, the ISMA pointed out that one of the reasons for the current financial difficulties faced by most textile units is the high power cost. The association plead ed that the State Government should alternatively adjust the 4 per cent power tax against the sale of yarn in place of the value added tax. It also wanted the State Government to emulate the model of Andhra Pradesh in extending the concessional power tariff at Rs 1 per unit for the textile industry till 2010.

— Our Bureau

More Stories on : Textiles | Power | Industry Associations | Tamil Nadu

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