The imposition of VAT @ 5% on furnishing fabrics in Maharashtra will not generate high revenue for the State Government, according to the Federation of All India Textile Manufacturers' Association (FAITMA). Addressing the annual general meeting of the Federation, Mr. Ramesh Podar, President, FAITMA, informed that furnishing fabrics are mostly manufactured in Maharashtra which means that the demand is substantially met by Maharashtra, resulting in 80% of furnishing fabrics being exported to other States in the country.
展开▼
