Textile shops down shutters in Erode
The Hindu
In protest against the hike in Goods and Services Tax for textile products
Opposing the increase in Goods and Services Tax (GST) for textile products from 5% to 12% from January 1, 2022, around 4,000 textile shops downed shutters on Friday.
Textile shops at Kongalamman Kovil Street, Eswaran Kovil Street and in other parts of the city remained closed for a day to condemn the move to increase the GST when the industry was facing challenges due to increase in yarn price.
K. Kalaiselvan, president, Erode Cloth Merchants’ Association told media persons that after the GST was implemented from 2017, all the micro, small and medium traders were affected. About 30% of the traders closed their shops and left the business. Later, COVID-19 pandemic crippled the business. Now the increase in price of yarn and raw materials have further worsened the situation. “Increase in GST for textiles is unacceptable as we do not know how to carry on the business further,” he added.