Surat (Gujarat), Aug 01 (ANI): Textile traders in Surat on Monday reiterated that they are incurring heavy losses after the launch of Goods and Services Tax (GST). Under the GST, tax of five percent is being imposed on fabric and garment, but 18 percent is charged on synthetic fibres and yarn. A trader said the trade, which used to take place regularly, is not even 50 percent since the new tax regime was rolled out on July 01. Last month, the traders had led massive protests in the state against the new levy.
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