Sep 24, 2020

Indian saris to be cheaper amid new tax? Featured

It is reported that with the imposing of a Rs. 100 tax per kilo of fabric imported, only a Rs. 25 tax will apply for an Indian sari.

Therefore, prices of Indian saris are expected to be available at a more affordable price in the future.

As a measure to bolster the Covid-19 hit economy, importing of around 175 items have been banned.

However, with the help of a Usance letter of credit facility with a 90-day credit, permission was granted to import ready made garments, fabrics, socks, jackets etc.

An expert in the field said that the banned garments are items that can be manufactured in Sri Lanka and that there are nearly 800 international level garment factories and a large number of factories operating locally by local investors.

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