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 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.
Disclaimer: No Business Standard Journalist was involved in creation of this content
