Open End Spinning Mills Association has appealed to the State and Central Governments to expedite refund of input credit paid by the mills in the GST account.
Association secretary G. Arulmozhi said the 400-odd mills in Tamil Nadu used waste from garment units, and PET bottle fibre to produce coloured yarn. Under GST, PET bottle fibre attracted 18 % tax and the mills paid 5 % GST at yarn sales point. So huge input credit balance was available in the account of the mills. This should be refunded, he said.
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