Citing liquidity crisis, TirupurExporters Association (TEA) on Friday urged the Centre toclear pending claims related to Drawback, Rebate on StateLevies (RoSL) and Rebate of State and Central Tax and Levies(ROSCTL), including IGST.

TEA president Raja M Shanmugham said the knitweargarment sector has been already going through a liquiditycrisis and in this situation, Diwali festival is approachingin the next 20 days and the units have to statutorily disbursethe 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 requestthe minister to advise to clear the pending claims amountrelated to Drawback, RoSL, RoSCTL including IGST stopped tothe concerned exporting units listed under Risky Exporterscategory expediently." The release of the pending claims will help tide overthe financial crisis and also to make the bonus paymentwithout any issue, and the measure will be particularlybeneficial to the MSME units, numbering 80 per cent out oftotal garment exporting units, Shanmugham said Regarding Risky Exporters category, he said that dutydrawback, IGST and RoSL benefits have been suspended to theknitwear garmenting units and these units are also undergoing100 per cent inspection at port further to classification ofthese units under this category.

Published On : 04-10-2019

Source : Devdiscourse

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