TEA Urges Union FM Arun Jaitley To Exempt IGST On Imported Apparel Accessories

Trade & Policy

TEA Urges Union FM Arun Jaitley To Exempt IGST On Imported Apparel Accessories

Tirupur Exporters' Association (TEA) has urged Union Finance Minister Arun Jaitley to address issues like exempting imported apparel accessories from paying IGST and expeditious release of refunds due to exporters.

In a pre-budget consultation meeting with Jaitley 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 Amended Technology Upgradation Fund Scheme (ATFUS).

He also asked for a 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 Equalisation Scheme, increased investment limit for MSMEs, Labour Law amendment and reduction of GST for effluent treatment carried out by centralised effluent treatment plants from 18% to 5%.

Shanmugham expressed confidence that the Union Finance Minister would address these issues stunting the growth of the knitwear garment sector while drafting Union Budget 2018-19.

He also stated that he attended a meeting called by A K Singh, Secretary, Ministry of Textiles and submitted a Pre-Budget Memorandum, with additional points like requirement of industry infrastructure, state-of-the art design studio, Knitwear Research Centre, housing for labourers and hostels.