Tirupur Exporters’ Association urges FM to address issues hindering garment sector

Tirupur Exporters’ Association today urged Union Finance Minister Arun Jaitley to address issues like exemption from payment of IGST on […]

   

Tirupur Exporters’ Association today urged Union Finance Minister Arun Jaitley to address issues like exemption from payment of IGST on imported apparel accessories, expeditious release of refunds due to exporters in Coimbatore. In a pre-budget consultation meeting with him in Delhi, TEA President Raja M Shanmugham also sought refund of accumulated ITC for job working units, permanent deletion of Reverse Charge Mechanism under Section 9(4) and fund allocation for government schemes like ATFUS (Amended Technology Upgradation Fund Scheme). He also wanted rebate on state levies and increase in fund allocation for the Market Access Initiative Scheme. In a pre-budget memorandum to Jaitley, TEA also sought increase of Duty Drawback Rate to cover blocked central taxes, Interest Equalization scheme, increased investment limit for MSMEs, Labour Law amendment and reduction of GST for Effluent Treatment carried out by CETPs from 18 to 5 per cent. Shanmugham expressed confidence that the Finance Minister would address the issues stunting the growth of the knitwear garment sector in the Union Budget 2018-19. He also said he attended the meeting called by A K Singh, Secretary, Ministry of Textiles and submitted the Pre Budget Memorandum,with additional points like requirement of Industry Infrastructure, state-of-the art design studio, Knitwear Research Centre and labour housing and hostels.

Trending

Harishankar-Bahety

Too much tax, shortage of skilled talent are Indian footwear industry’s biggest challenges: Unistar founder HS Bahety

zomato uber eats swiggy

Zomato acquires Uber Eats for Rs 2,485 crores

MSMEs

GeM has processed orders worth ₹ 40,000 cr in GMV in last 3 years, 50% transacted by MSMEs

Day-after-Piyush Goyal snub-Jeff-Bezos

Day after Piyush Goyal snub, Amazon commits to create one million new jobs in India by 2025

Amazon's-$1-bn-investment-in-India-no-big-favour--Minister-of-Commerce-&-Industry

Amazon’s $1 bn investment in India no big favour: Piyush Goyal, Commerce & Industry Minister

Jeff Bezos India visit

Amazon CEO, Jeff Bezos bets on Indian century, invests $1 bn digitizing MSMEs

MSME loans

Piyush Goyal: CGTMSE, SIDBI to set up framework for faster processing of SME loans

GST

Nirmala Sitharaman: GST to be further simplified for traders

UK Sinha committee

Government invites stakeholder’s suggestion on National Technology Mission for MSMEs

Delhi-NCR-the-largest-start-up-ecosystem-in-India,-surpasses-Bangalore

Delhi-NCR the largest start-up ecosystem in India, surpasses Bangalore

Premium Organic Soaps- Contribution to the Community

Anant-Nahata

Public charging infrastructure will be key to electric vehicle success in India: Anant Nahata, MD, Exicom