TEA urges Centre to release pending claim amounts Coimbatore, 0ct 4 (PTI) Citing liquidity crisis, Tirupur Exporters Association (TEA) on Friday urged the Centre to clear pending claims related to Drawback, Rebate on State Levies (RoSL) and Rebate of State and Central Tax and Levies (ROSCTL), including IGST.

TEA president Raja M Shanmugham said the knitwear garment sector has been already going through a liquidity crisis and in this situation, Diwali festival is approaching in the next 20 days and the units have to statutorily disburse the bonus to the workers from now onwards.

In a letter to Finance Minister Nirmala Sitharaman, he said "As the issue is critical to the units, may we request the minister to advise to clear the pending claims amount related to Drawback, RoSL, RoSCTL including IGST stopped to the concerned exporting units listed under Risky Exporters

category expediently."

The release of the pending claims will help tide over the financial crisis and also to make the bonus payment without any issue, and the measure will be particularly beneficial to the MSME units, numbering 80 per cent out of total garment exporting units, Shanmugham said Regarding Risky  Exporters category, he said that duty drawback, IGST and RoSL benefits have been suspended to the  knitwear garmenting units and these units are also undergoing 100 per cent inspection at port further to classification of these units under this category.

Published On : 04-10-2019

Source : The Week