{"id":41068,"date":"2025-09-16T13:42:37","date_gmt":"2025-09-16T08:12:37","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2025\/09\/16\/chairman-matexil-welcomes-rectification-of-inverted-duty-structure-for-mmf-textiles\/"},"modified":"2025-09-16T13:42:37","modified_gmt":"2025-09-16T08:12:37","slug":"chairman-matexil-welcomes-rectification-of-inverted-duty-structure-for-mmf-textiles","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2025\/09\/16\/chairman-matexil-welcomes-rectification-of-inverted-duty-structure-for-mmf-textiles\/","title":{"rendered":"Chairman, MATEXIL Welcomes Rectification of Inverted Duty Structure for MMF Textiles"},"content":{"rendered":"<div>\n<p><b>Mumbai (Maharashtra) [India], September 15:<\/b><span style=\"font-weight: 400;\"> The GST Council, at its 56th Meeting held on 3rd September 2025, approved the rationalization of GST rates by moving to a two-slab structure of 5% and 18%, abolishing the existing 12% and 28% rates. These revised rates will come into effect from 22nd September 2025.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As part of this reform, the GST rate on manmade fibres has been reduced from 18% to 5%, and on manmade yarns from 12% to 5%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Welcoming this landmark announcement, Shri Shaleen Toshniwal, Chairman of MATEXIL (Manmade Fibre Textiles &amp; Technical Textiles Export Promotion Council), said \u201cthe value chain of manmade fibre textiles\u2014fibre, yarn, and fabrics\u2014has now been brought under 5% GST and the \u00a0 long-pending rectification of the inverted duty structure will reduce costs, encourage domestic value addition, and improve the competitiveness of the sector.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He further added that this reduction comes as a major relief for exporters of manmade fibre textiles and technical textiles, who are currently facing turbulent times due to the 50% tariffs imposed by the US on Indian products.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Shri Toshniwal expressed his gratitude to the Hon\u2019ble Prime Minister, Shri Narendra Modi, for his visionary leadership and constant support to the MMF sector. He also thanked the Hon\u2019ble Union Finance Minister, Smt. Nirmala Sitharaman, the Hon\u2019ble Union Minister of Textiles, Shri Giriraj Singh, and the Secretary (Textiles), Smt. Neelam Shami Rao, for these historic decisions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe reduction in GST rates, along with other measures and reforms to simplify compliance and enhance ease of doing business, will strongly support the growth of the manmade fibre textiles and technical textiles sector, and contribute significantly towards realizing the vision of Viksit Bharat,\u201d according to the Chairman, MATEXIL.<\/span><\/p>\n<p><em>If you object to the content of this press release, please notify us at pr.error.rectification@gmail.com. We will respond and rectify the situation within 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], September 15: The GST Council, at its 56th Meeting held on 3rd September 2025, approved the rationalization of GST rates by moving to a two-slab structure of 5% and 18%, abolishing the existing 12% and 28% rates. These revised rates will come into effect from 22nd September 2025. As part of this&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/dailynewsindia.co.in\/index.php\/2025\/09\/16\/chairman-matexil-welcomes-rectification-of-inverted-duty-structure-for-mmf-textiles\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Chairman, MATEXIL Welcomes Rectification of Inverted Duty Structure for MMF Textiles&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":41069,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[54],"class_list":["post-41068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/41068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=41068"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/41068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/41069"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=41068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=41068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=41068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}