Tirupur Exporters Association (TEA) today welcomed the extension of Integrated GST exemptions for imports of machinery under EPCG scheme and inputs raw material under advance authorisation scheme for another six months.
The 26th GST Council meeting held today decided to extend the exemption from March 31 to October one.
TEA president, Raja M Shanmugham said the council's decision would help the Tirupur cluster, particularly the MSME exporting units.
The council's decision after considering the request of the association would be helpful to the Tirupur cluster, who plan to go for import of machinery, particularly to the MSME exporting units, he said.
He further said the MSME exporting units had been facing a financial crisis due to blockage of government receivables like Rebate on State Levies (ROSL) and Duty Drawback including delay in getting GST Refund due to cumbersome procedures.
Raja Shanmugham also requested to give exemption from payment of IGST for import of accessories (or else) to give exemption as like in pre-GST period, when the accessories were imported under Export Performance Certificate (EPC), issued by Apparel Export Promotion Council, which was not considered by the Council.
Disclaimer: No Business Standard Journalist was involved in creation of this content
