INDIA: New Textile Minister May Dismantle CENVAT Chain
As the ministers in India's newly elected government take charge of their departments, most business sectors are heaving a sigh of relief. However, the Indian textile industry is not celebrating yet. The new minister, Shankar Sinh Vaghela, is reported to be considering moves to dismantle the Centralised Value-Added Tax (CENVAT) chain, causing concern in many sectors.
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