Home / Knowledge / News / Textiles / Extend IGST exemption under EPCG beyond March 31: TEA

Extend IGST exemption under EPCG beyond March 31: TEA

26
Feb '19
Pic: Pxhere
Pic: Pxhere
The Tiruppur Exporters’ Association (TEA) has sent a representation to the Union commerce minister for extending (i) IGST exemption for import of capital goods under EPCG scheme and (ii) inputs under Advance Authorisation scheme beyond March 31, 2019. The association has sought extension for another two years to help the domestic industry bounce back.

“After implementation of GST, TEA had requested for exemption from the payment of IGST while importing capital goods under EPCG scheme or inputs like specialty fabrics under Advance Authorisation scheme and considering the need, the Government permitted for exemption from payment of IGST for a period of six months on each occasion and finally, till March 31, 2019,” TEA president Raja M Shanmugham said in a press release.

Continuous modernisation/expansion is regularly taking place in Tiruppur, comprising the sector having more than 80 per cent in MSMEs to enhance the quality for fulfilling the buyers’ requirements and also increase the productivity. At this juncture, the exporting and job working units are having doubt on continuation of IGST exemption beyond March 31, 2019, and the major concern is that the IGST paid for Capital Goods could not get adjusted/refunded. Due to this, the units are under confusion whether to place the order with machinery suppliers by presuming that the exemption would continue beyond March 31 or to wait for a clarification from the Government side, Shanmugham said.

“Once the election code of conduct is announced, probably in the second week of March, and if the IGST payment exemption notification has not been issued, then it would be a big setback for the units, particularly MSMEs going for modernization,” he added. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Modanisa

Apparel/Garments | On 23rd Mar 2019

European bank invests in Turkish fashion e-com platform

The European Bank for Reconstruction and Development (EBRD) recently...

UNIDO to train cotton farmers in Egypt on sustainability

Textiles | On 23rd Mar 2019

UNIDO to train cotton farmers in Egypt on sustainability

The United Nations Industrial Development Organisation (UNIDO) has...

China to boost investment in Bangladesh: envoy

Textiles | On 23rd Mar 2019

China to boost investment in Bangladesh: envoy

China would facilitate more investment by its companies and small and ...

Interviews View All

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search